iPhone maker Foxconn plans $1.54 billion India plant

Foxconn is investing $1.54 billion in an iPhone manufacturing plant in India, doubling its investment.
Foxconn has increased production in India since leaving a $19.5 billion processor manufacturing joint venture with Vedeanta. Foxconn invested $500 million in two Karnataka, southern India, plants in August 2023.

Foxconn parent company Hon Hai Precision Industry filed a securities filing to invest $1.54 billion in a new plant, according to Nikkei Asia.

The filing only states that the plant is being built for “operational needs.” It is unclear where in India the facility will be built.

It is unclear what the plants will produce, but Nikkei Asia reports that an unnamed industry source says iPhones. Possibly for testing and product development.

Indian Foxconn production has increased due to Apple suppliers moving from China.