FOXCONN IS CONSIDERING ESTABLISHING AN EV FACTORY IN INDIA DURING THE CURRENT YEAR.

Foxconn might start selling electronic products in India soon. The company, famous for manufacturing Apple’s iPhone, is planning to enter India’s electric vehicle market as well. Foxconn, a prominent Taiwanese electric company, is exploring the possibility of producing electric vehicles in India following its success with the iPhone. As part of this plan, Foxconn is actively seeking investment opportunities in India.

According to their latest annual report, the company announced that they will be expanding their production in India this year with the country’s support. They plan to begin manufacturing electric two-wheeler vehicles. This move will allow them to cater to the growing market for electric two-wheelers in Southeast Asia.

This is the company’s comprehensive plan.

According to a report from the Economic Times, Foxconn Group is interested in expanding its production beyond phones and exploring other sectors. They are now considering the possibility of manufacturing electronic vehicles in India, collaborating with countries like Vietnam and Indonesia in Southeast Asia. If everything goes as planned, they may establish an electronic vehicle centre in India. The company has already had discussions with Foxtron, an electric vehicle support company, and has also engaged with Ather Energy, a manufacturer of electric scooters.

India ranks second after America in terms of its number.

The phone manufacturer Foxconn is fully prepared to enter a new market segment. In the past year, the company acquired factory space in the US to begin manufacturing electric vehicles. Additionally, they plan to utilize Frisker’s plants for hybrid electric vehicles. Last year, representatives from Maharashtra, Telangana, Tamil Nadu, and Andhra Pradesh states held meetings with senior officials from Foxconn to discuss the production of electric vehicles.