Foxconn Industrial Internet (FII), Foxconn’s subsidiary, is currently in talks with the Tamil Nadu state in India to invest up to $200 million in establishing a new electronic components plant there. The CEO of FII, Brand Cheng, and other company representatives held meetings with Tamil Nadu officials last week to explore investment opportunities, the government stated without providing further details. Foxconn aims to complete the plant by 2024, with potential additional investments in the future, according to sources familiar with the matter. However, specific details about the plan, such as whether the components produced at the facility would be used in iPhones or other products, remain unknown. Foxconn, the world’s largest contract electronics manufacturer, is also engaged in talks with India’s Gujarat state to explore possibilities of entering the country’s semiconductor sector. The company’s chairman, Young Liu, is expected to address an annual semiconductor event hosted by the government later this week. [Reuters]
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