Foxconn to Build New Factories in South India with $500 Million First Phase Investment

[T0@st]

Foxconn has commited to $500 million of investments into new operations within Telangana, a southern state located in India. The region's IT minister, K. T. Rama Rao, broke the news earlier today and declared that the Taiwanese multinational electronics contract manufacturer will be building new factory facilities - with the first example breaking ground in Kongara Kalan (a village to the south of Hyderabad) this morning.

The minister estimates that the "first phase" of new Foxconn manufacturing plants will help generate 25,000 "direct jobs" across the state of Telangana. Reuters has previously reported that Foxconn has been granted a new contract for the manufacture of next generation AirPods - Apple is a key client for the company, and executives have pushed for a shift in production locations due to problems encountered in China. Foxconn's move into India is observed as a strategic decision - facilities are less likely to get shutdown (due to health restrictions) and the country is not getting hit with advanced semiconductor sanctions.



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[Chaitanya]

Foxconn seems to have a habit of signing MOUs with various states making big announcements and then pulling out few months later.

 

[dicobalt]

Foxconn seems to have a habit of signing MOUs with various states making big announcements and then pulling out few months later.

I was just about to say that. It's like their side hustle.

 

[timta2]

Where are all of those jobs, that Donald Trump, former Wisconsin Governor Scott Walker, and Foxconn promised Wisconsinites? People had to move out of their homes to build empty fields? Be careful India!