A subsidiary of Foxconn, the Taiwanese company known for supplying components to Apple, is reportedly in discussions with the Tamil Nadu government to invest up to $200 million (approximately Rs. 1,638 crore) in establishing a new plant in the state. According to two sources familiar with the matter, the proposed plant will focus on manufacturing electronic components. The Foxconn Industrial Internet (FII) shared its plans with state officials, indicating an initial investment ranging from $180 million to $200 million (around Rs. 1,475 crore) for the facility. This comes after an earlier announcement of Foxconn’s proposal to set up a supplementary plant worth Rs 8,800 crore in Karnataka.
Brand Cheng, the CEO of Foxconn Industrial Internet (FII), along with other company representatives, recently met with Tamil Nadu officials to discuss potential investments in the state. The meeting included the Chief Minister, but specific details about the discussions were not disclosed. Foxconn already has a campus near Chennai, where it assembles iPhones for Apple.
The proposed facility aims to manufacture electronic components, but it is not specified whether these parts will be used in iPhones or other products. Foxconn plans to complete the plant by 2024, with additional investments expected in the future.
In addition to Tamil Nadu, Foxconn is also reportedly in discussions with Gujarat to establish a semiconductor plant. This comes after the company’s joint-venture plan with Vedanta was terminated. Gujarat’s science and technology department secretary stated that they are engaging with multiple prospective investors, including Foxconn, and the state is well-positioned to attract top chipmakers.
Furthermore, the Karnataka government recently announced talks with FII, where the company expressed its commitment to invest approximately Rs 8,800 crore in a new plant. The project is expected to create 14,000 jobs and require about 100 acres of land.
