Taiwan’s Foxconn Technology Group, the world’s largest contract electronics manufacturer and iPhone assembler, plans to invest approximately $700 million to build a new facility in India to boost local production. It has been reported Bloomberg with reference to sources.
The publication notes that the decision highlights the rapid shift of production out of China as “tensions between Washington and Beijing escalate.”
The agency’s source emphasizes that the manufacturer plans to set up a factory for the production of parts for Apple smartphones near the airport in Bangalore.
It was learned that Yang Liu was the chairman of the board of the Taiwanese company Foxconn before. visit India, where he met with the authorities of the southern states.
According to preliminary data, one of the businesses may focus on manufacturing components for iPhone smartphones, while the other may focus on manufacturing components for electric vehicles. According to unofficial information, Apple has been developing its own autonomous electric car for several years.