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Foxconn subsidiary in talks for $200 million plant in Tamil Nadu

By Nithya Bose in Business News, posted July 27, 2023

A Foxconn subsidiary is reportedly in discussions with Tamil Nadu, India's southern state, to invest up to $200 million in constructing a new electronic components plant.

Last week, Foxconn CEO Brand Cheng and other company representatives met with Tamil Nadu officials, including the Chief Minister, to explore potential investments in the state.

However, the government's statement did not disclose specific details about the meeting.

Foxconn, known for manufacturing communication, mobile network, and cloud computing equipment, has reportedly presented a proposal to state officials.

It outlined an initial investment ranging from $180 million to $200 million for the new facility.

Foxconn already operates a significant campus near Chennai in Tamil Nadu, where they assemble Apple's iPhones.

The sources, who disclosed new developments, did not provide further information on the plant, as parts made at the facility would be used in iPhones or another company's products.

Foxconn aims to complete the plant's construction by 2024, with further investments expected.

Foxconn is also exploring opportunities in India's semiconductor sector and is said to be in talks with the western state of Gujarat.

This move comes as part of its efforts to expand its presence in the Indian market.

Foxconn had discussions with the Karnataka government last week, where they committed $1.07 billion in investment for another new plant.

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