Apple Partner Foxconn To Shift Its Plant From China To India
iPhone maker Foxconn is shifting its manufacturing plant from China to Telangana with an investment of 5,763 crores which will generate 1 lakh jobs. Apple Inc. partner Foxconn Technology Group intends to spend around $700 million on a new plant in India to increase local production, reflecting an accelerated transfer of production away from China as Washington-Beijing tensions rise. The people, who wished to remain anonymous because the information is private, claimed that the Taiwanese company, also known for its flagship unit Hon Hai Precision Industry Co., intends to construct the plant to manufacture iPhone parts on a 300-acre site close to the airport in Bengaluru, the state capital of Karnataka in southern India. According to some of the sources, the plant may potentially assemble Apple’s mobile devices. Foxconn may also utilize the location to make some parts for its fledgling electric vehicle industry. The investment highlights how China is in danger of losing its p...