Foxconn is planning to establish the world’s second-largest Battery Energy Storage System in Tamil Nadu. Foxconn is India’s largest contract manufacturer.
Economic Times has reported that the Tamil Nadu government has proposed to offer 200 acres of land for the project as a part of its espousal with the company.
The Tamil Nadu government has also offered Foxconn an incentive package, as reported by Economic Times officials.
Foxconn has not yet finalized the deal, but the discussions are in the final stages. The company is likely to proceed with the project, as Chairman Young Liu mentioned on his India visit.
The 200 acres of land proposed to Foxconn is near Manalur in Tiruvallur district, about 50 km north of Chennai.
Emphasizing On Electric Vehicles (EVs), Energy and Digital Health.
In August 2024, Young Liu visited India and discussed Foxconn’s plans to expand its operations in India beyond smartphones.
Young Liu is interested in sectors such as Electric vehicles, digital health, and energy.
Looking forward, Young highlighted Foxconn’s focus on batteries as part of its broader EV strategy.
Liu said, “We are eager to bring our 3+3 future industry initiative to India,” during his last visit.
Liu further said that he had been in talks with the Minister for Industries in Tamil Nadu about a prospective alliance on Battery Energy Storage Systems (BESS).
The three key sectors Digital Health, EVs, and Energy represent a market value of $1.4 trillion, with an expected compound annual growth rate exceeding 20%.
In this regard, Liu gave an update on the BESS unit in Taiwan, on November 14.
“Our manufacturing plant for battery and energy storage is about to be complete, however, we expect official mass production will be delayed until the first quarter of next year,” Young said.
About Foxconn
Foxconn is Taiwan’s world’s largest electronics manufacturer and contract manufacturing company founded by Terry Gou.
Foxconn manufactures products for giant companies in Canada, China, the US, Finland, and Japan.
The products include iPhone, iPad, BlackBerry, iPod, PlayStation4, Xbox One, Kindle, and Wii U.
Foxconn owns over 57,729 patents with research and development centers around the world.
Foxconn manufacturing centers are currently present in 7 countries. India, China, Japan, Malaysia, Vietnam, the Czech Republic, and the US.
In terms of annual revenue in 2023, Foxconn gained US $192 and was ranked 20th in the Fortune Global 500.
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