Apple iPhone maker Foxconn may set up EV factory in India; will compete with Royal Enfield, Ola
Apple iPhone maker Foxconn is reportedly planning to set up an electric vehicle (EV) manufacturing plant in India and is currently in talks with several state governments. Foxconn is popularly known as the Apple iPhone maker across the globe.
FollowFoxconn, the manufacturer of Apple's iPhones, is reportedly aiming to build an EV manufacturing facility in India and is now in negotiations with a number of state governments. According to media reports, the firm that makes the Apple iPhone said in its annual report that India will assist it in starting a facility to produce electric two-wheelers for the Southeast Asian market. The two businesses making significant bets on the electric motorbike market in India are Ola Electric and Royal Enfield. The two will introduce brand-new EV bikes for the mainstream market in the upcoming years.
The report also states that a group from India would soon go to Taiwan to meet with Foxconn officials to discuss their EV aspirations. Although Foxconn is well-known for producing Apple iPhones all around the world, this does not imply that the company's EV that it will be producing in India is an Apple product. It is yet unknown if the business would create electric two-wheelers through a joint venture for several brands or just one.
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Foxconn apparently has interest in building an EV manufacturing facility in Maharashtra, but given that it already has a presence there, it may decide to settle on Tamil Nadu. Telangana is another state that the brand has its eye on since it is "the most active state in terms of outreach and incentive".
To recall, when Foxconn Chairman Young Liu visited India for the first time last year, Prime Minister Narendra Modi tweeted that the Taiwanese company’s “push for EV manufacturing is in line with our commitment of Net Zero Emission”.
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"Glad to meet Mr. Young Liu, Chairman, Foxconn. I welcome their plans for expanding electronics manufacturing capacity in India, including in semiconductors," Modi said in a tweet.
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