Though neither the state government nor Foxconn disclosed the investment amount, industry sources said it will entail an investment of $700 million.
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Fe Bureau
Apple will strengthen its production base in the country with key contract manufacturer Foxconn setting up a new factory in Bengaluru on 300 acres. Karnataka Chief Minister Basavaraj Bommai said the new plant, which will make iPhones, will also create 100,000 jobs.
Though neither the state government nor Foxconn disclosed the investment amount, industry sources said it will entail an investment of $700 million.
Foxconn currently manufactures iPhones in Tamil Nadu under the production-linked incentive (PLI) scheme. Two other contract manufacturers of Apple make iPhones in India under the PLI scheme: Pegatron in Tamil Nadu and Wistron in Karnataka.
Apple has been shifting production away from China after the country’s strict Covid-related restrictions disrupted the manufacturing of new iPhones and other devices in the country and also to avoid a big hit to its business from tensions between Beijing and Washington. With Reuters inputs
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