iPhone maker Foxconn wants to get into the Indian market for making electric vehicles. According to reports, the Taiwanese business is in discussions about this with some state governments. The Economic Times reported that an Indian delegation will soon travel to Taiwan to meet with Foxconn executives and go over the company’s plans. It is still unknown, though, whether Foxconn would engage in joint venture (JV) contract manufacturing for a number of brands or just one.
Although the manufacturer has a partnership with the maker of electric scooters Ather Energy, it is anticipated that it will search for a partner as it enters the market. According to sources who spoke to the Daily, they might collaborate with a major Indian automaker.
During their visit to India last year, top Foxconn executives met with representatives from Maharashtra, Telangana, Tamil Nadu, and Andhra Pradesh to discuss their EV plans. People in the know said that while Foxconn is interested in Maharashtra, it may also take into account Tamil Nadu because it already has a hub for the manufacturing of automobiles there and because Maharashtra presented some difficulties.
Telangana, which is also competing, is being considered for its active “outreach and incentive”. According to the report, the Taiwanese company intended to develop a vertical platform with manufacturing, hardware, component manufacturing, and battery management. Then it would work with regional businesses.
Foxconn stated that India would help it set up a production line this year in order to provide two-wheeler EV manufacturing services in the company’s annual report, which was published on May 31. During Foxconn Chairman Young Liu’s visit to India, Prime Minister Narendra Modi stated that the company’s push for EV manufacturing is consistent with India’s commitment to net zero emissions.
