Taiwan's Foxconn seeks chip, EV cooperation with India

Major Apple Inc supplier Foxconn said on Saturday it was seeking cooperation in India in new areas like chips and electric vehicles (EVs) after a visit to the country by its chairman, Liu Young-way.

Apple has been shifting production away from China after the country's strict Covid-19 restrictions disrupted the manufacturing of new-model iPhones and other devices, and amid tensions between Beijing and Washington.

In January, India's trade minister said Apple, which began iPhone assembly in the country in 2017 through Wistron Corp and later Foxconn, wants India to account for up to 25 per cent of its production from about 5 per cent to 7 per cent currently.

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Taiwan's Foxconn, the world's largest contract electronics maker and formally called Hon Hai Precision Industry Co Ltd, said Liu had visited India from Feb 27 to Saturday.

"My trip this week supported Foxconn's efforts to deepen partnerships, meet old friends and make new ones, and seek cooperation in new areas such as semiconductor development and electric vehicles," Liu said in a statement.

Foxconn has ambitious plans to make EVs, and is also looking to make chips.

"On the basis to share, collaborate and thrive together, Foxconn will continue to communicate with local governments to seek the most beneficial development opportunities for the company and all stakeholders," Liu added.

He did not mention any new concrete investment plans in the country, and Foxconn has not announced any since his trip.

Apple's iPhones will soon be assembled at another site in the southern Indian state of Karnataka, and 300 acres (120 hectares) have been aside to set up a factory, the state government said on Friday.

Currently, iPhones are assembled in India by at least three of Apple's global suppliers - Foxconn and Pegatron in Tamil Nadu, and Wistron in Karnataka.