Foxconn planning to make EVs in India; Tamil Nadu on radar'
07-Sep-2023
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NEW DELHI: A little over a month after meeting Prime Minister Narendra Modi in Gujarat, Hon Hai Technology Group (Foxconn) chairman & CEO Young Liu once again threw his weight behind the production quality of India and said that the country is poised to emerge as the "new manufacturing centre in the world", with the supplier ecosystem likely to develop faster than the time it took to come up in China. Liu said that Foxconn will expand its operations in India as business grows on higher consumer purchases. "Foxconn continues to expand its presence in India in response to customer needs," the chairman said in a statement in Taiwan as he outlined the company's plans for growth in India Liul said that if there are not many changes in India, the country will "become a new manufacturing centre" for the world. He also added that the supply chain ecosystem - which took over 30 years to build in China - is likely to come up faster in India, especially as there are huge opportunities for the local electronics industry.
