Foxconn is going to build a $700 million iPhone plant in India

Foxconn is the manufacturing affiliate of tech company Apple. Some recent pieces of information suggest that Foxconn is going to invest heavily in India. As per recent developments, it has been reported that Foxconn will invest $700 million in building an iPhone plant in Bengaluru, India. Well, we can assume that it is a strategy that will lessen the reliance of tech firms on China.

Basically, Foxconn is a Taiwan-based company. It has various factory units in China as well as in Taiwan. Among several other companies included in Apple’s supply chain, Foxconn is another that has decided to reduce its dependence on production in China.

The recent information is based on information from Bloomberg. In order to speed up the production of iPhone parts the company is going to make a heavy investment of $700 million in India. Reportedly, a new plant will be set up in Bengaluru, India. Furthermore, the facility could be utilized for the assembly of iPhones as well as the production of electric vehicle parts.

As per the report, Foxconn is going to introduce around 100,000 job opportunities with this new plant. In contrast, the company introduced almost 200,000 in Zhengzhou. But unfortunately, the company had to face challenges with multiple lockdowns, riots, and production shutdowns throughout the end of 2022. Besides this, the sources mentioned that this could be a tentative plan. Since it is uncertain whether it is going to be a plant for new product output or if it is going to substitute production from another location.

Well, such news of Apple investing in India is not something new or surprising. Another report suggests that Apple might triple its iPhone production over the course of the next three years.