Foxconn, the world’s largest electronics manufacturer, will continue its expansion in India and wants to build a $700 million factory, a facility that might lead to the creation of 100,000 jobs. It would produce for Apple as part of the company’s strategy to find other manufacturing countries outside of China.
Logo FoxconnPhoto: Kenneth Paul, Dreamstime.com
Bloomberg writes that the factory will be built near the city of Bengaluru, one of the tech centers of India, a country that offers important subsidies to attract large companies.
Apple and other tech companies have been looking for the past two years to open factories outside of China to reduce dependence on the world’s largest country where problems have arisen due to Covid 19 and due to growing tensions with the US.
The countries with the greatest potential to take over production from China are Vietnam, India and – to a lesser extent – Thailand.
The Indian factory would initially produce components for the iPhone and, at a later stage, might also start assembling Apple phones.
Foxconn’s largest site in China is in Zhengzhou, where more than 200,000 people work.
Photo source: Dreamstime.com
