Apple Supplier Foxconn To Invest $600 Million In Karnataka For iPhone Components, Chips
Taiwan's Foxconn will invest ₹4,955 crore ($600 million) in two projects in the South Indian state of Karnataka, the state government announced on Wednesday.
Foxconn eyeing India investments
The Apple supplier is investing in Karnataka for chip equipment manufacturing and casing components, Reuters reported. About ₹2,890 crore ($350 million) will be allotted to setting up an iPhone component unit. This particular project is expected to generate 12,000 jobs.
For the second factory, Foxconn is tying up with Applied Materials in a ₹2,064 crore ($250 million) project to make tools that are used to manufacture chips.
Foxconn are investing $600M to establish two cutting-edge manufacturing plants in Karnataka.— Priyank Kharge / ಪ್ರಿಯಾಂಕ್ ಖರ್ಗೆ (@PriyankKharge) August 3, 2023
One will partner with Applied Materials, bringing innovation to chipmaking tools.
$350M will go into creating a unit for smartphone component manufacturing. An additional $250M will… pic.twitter.com/AzqChTYop2
The details were made public after a meeting between Foxconn Chairman Young Liu, Karnataka's Information Technology Minister Priyank Kharge, and Industries Minister MB Patil.
In recent weeks, Foxconn has announced a series of investments in India. Recently, the giant signed an agreement with the Tamil Nadu government to set up a new electronic components factory that would generate 6,000 new jobs.
Foxconn will invest ₹1,600 crore ($194.45 million) to set up a campus in Tamil Nadu's Kancheepuram district, situated near the state capital of Chennai. It appears that Foxconn is also eyeing India and Thailand for the production of small battery-powered car that is currently in development.
In July, top executives from Foxconn, AMD, and Micron attended a conference in Gujarat as the government attempts to lure investments into India for manufacturing chips and electronic components.