As governments pushing the EV culture globally, a lot of car manufacturers were forced to shift their main focus to electric vehicles, instead of fuel-powered ones. A Taiwan-based electronic product manufacturing company Foxconn also trying its hands in the segment, and is all set to contribute to the electric industry in India.
Recently, it has been reported that the brand has been working hard to introduce a small electric car, which will be manufactured locally.
Foxconn EV Plans in India
In order to spread its roots in the above-mentioned industry, the company has been looking for opportunities to set up an EV manufacturing plant in Tamil Nadu. Report also says that in order to achieve the goal, and expand business in the country, Foxconn’s Chairman and CEO Young Liu recently had meeting with Prime Minister Narendra Modi at Semicon India 2023 in Gujarat, where both exchanged words regarding the same.
Here’s How Foxconn’s CEO Reacted
While confirming the news, Liu said that Foxconn has been working hard to cater customers in need in India, and it will continue to expand its roots in the country to contribute to the electric segment. He also appreciated India’s effort towards transforming the EV culture, and said the country has ability to become a new manufacturing centre globally.
Liu also hinted that his company will indulge in making the key components in the EV segment to enhance the competition in India.
Foxconn’s Turnover in India
Talking about Foxconn’s future plans, the company expected to invest billions of dollars in the segment, and aims to expand its business beyond its existing 30 factories, which reportedly creates a combined turnover somewhere around USD 10 billion together.
