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In 1974, Foxconn, or Hon Hai Technology Group as it is formally called, began manufacturing TV knobs. With an annual turnover of $200 billion (£158.2 billion), it is now among the most powerful technological businesses in the world.
It is most known for producing more than half of Apple's devices, including the iPhone and iMac, but it also works with companies like Microsoft, Sony, Dell, and Amazon.
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It has prospered for years on a strategy developed by multinational firms, where things are designed in the US, produced in China, and then sold all over the world. That is how it developed into the huge consumer electronics company it is today from a modest component manufacturing company.
As per the latest news, this iPhone maker is in close contact with many state governments about producing electric cars (EVs) in the nation. According to Economic Times, the corporation wants to build a facility in Maharashtra, but owing to several difficulties, it may choose to base its vehicle manufacture in Tamil Nadu. iPhones are already produced by Foxconn in Chennai.
Telangana can also be regarded by the corporation as its "most active state in terms of outreach and incentive". The corporation may potentially create EV components in India in addition to EVs, according to the ET article.
The firm stated in its annual report, which was released on May 31, that India will help it set up a production line this year to provide for producing electric two-wheelers for Southeast Asia.
With India focusing on the net zero emission this take would be crucial, the same was stated by the Prime Minister Narendra Modi on Chairman Young Liu's trip to India for Foxconn
- Charu Kapoor
