Foxconn invites bids for new India factory build
Taiwanese electronics manufacturer Foxconn is reportedly seeking partners for construction of its proposed site in India.
Last month, it was announced that Foxconn was teaming up with Indian technology company HCL Group to build a USD 37.2 million semiconductor assembly and testing plant. Filings said the facility will focus on the outsourced assembly and testing (OSAT) of foundry-produced wafers.
Now, fresh reports say Foxconn's subsidiary, Foxconn Hon Hai Technology India Mega Development Pvt Ltd, has started the process of finding construction partners for the site.
Indian officials will be hoping for a positive result from this project. Foxconn’s Indian activities have been up and down. Last year, its partnership with Indian conglomerate Vedanta, which was supposed to result in a USD 19.5 billion chipmaking joint venture, fell through.
Yet it also inked a Memorandum of Understanding (MoU) with the Karnataka government to set up a mobile manufacturing unit, set up a plant in Devanahalli and pledged USD 55 million to a proposed Bengaluru-based subsidiary.
Foxconn wants to diversify its supply chain beyond China. It has deepened its commitment to India as a viable alternative for mass production of iPhones, alongside fellow manufacturers Pegatron and Tata Electronics.