China's largest supplier of Apple iPhones, Foxconn, is under intense scrutiny. The Chinese natural resources department has initiated on-site investigations into the land use of Foxconn enterprises, specifically in Henan and Hubei provinces.

China launches tax audits and land use investigations on Foxconn

Apple iPhone maker Foxconn was subjected to searches by Chinese tax authorities, state media reported on Sunday (Oct 22). According to a report by the Global Times, tax authorities searched Foxconn's offices in Guangdong and Jiangsu provinces. The ministry of natural resources also inspected Foxconn's offices in Henan and Hubei provinces, where it has major offices.

Foxconn is a Taiwanese-headquartered company officially registered as Hon Hai Precision Industry Co., Ltd. Foxconn does the vast majority of its manufacturing in China, and employs hundreds of thousands of workers across the country.&nbsp;

More details about the searches were not known including when they were carried out or what was found. However, an expert told state media while Taiwan-funded enterprises, including Foxconn, were sharing in dividends from "development and making remarkable progress in the mainland, they should also assume corresponding social responsibilities and play a positive role in promoting the peaceful development of cross-strait relations.”

In a statement, Foxconn said, "Legal compliance everywhere we operate around the world is a fundamental principle of Hon Hai Technology Group." 
 
"We will actively cooperate with the relevant units on the related work and operations," the statement added.&nbsp;

The searches come amid the ongoing strained relations between China and Taiwan. China claims the democratic self-governing island of Taiwan as part of its own territory.

The Chinese military regularly flies fighter jets and bombers near Taiwan to enforce its stance that the island is obliged to unite with the mainland, by force if necessary.

The strained relations have also spilled over to the economic realm with China banning pineapples, grouper fish, and other agricultural products from Taiwan for import. But Beijing has largely refrained from targeting Taiwanese companies that operate on the mainland.

In August, Foxconn's founder Terry Gou that he would be a frontrunner in next year's Taiwan presidential elections. He then resigned from his seat on the board of Foxconn.&nbsp;

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Apple iPhone maker Foxconn was subjected to searches by Chinese tax authorities, state media reported on Sunday (Oct 22). According to a report by the Global Times, tax authorities searched Foxconn's offices in Guangdong and Jiangsu provinces.

Apple iPhone maker Foxconn was subjected to searches by Chinese tax authorities, state media reported on Sunday (Oct 22). According to a report by the Global Times, tax authorities searched Foxconn's offices in Guangdong and Jiangsu provinces. The ministry of natural resources also inspected Foxconn's offices in Henan and Hubei provinces, where it has major offices. Foxconn is a Taiwanese-headquartered company officially registered as Hon Hai Precision Industry Co., Ltd. Foxconn does the vast majority of its manufacturing in China, and employs hundreds of thousands of workers across the country. More details about the searches were not known including when they were carried out or what was found. However, an expert told state media while Taiwan-funded enterprises, including Foxconn, were sharing in dividends from "development and making remarkable progress in the mainland, they should also assume corresponding social responsibilities and play a positive role in promoting the peaceful development of cross-strait relations.” In a statement, Foxconn said, "Legal compliance everywhere we operate around the world is a fundamental principle of Hon Hai Technology Group." "We will actively cooperate with the relevant units on the related work and operations," the statement added. The searches come amid the ongoing strained relations between China and Taiwan. China claims the democratic self-governing island of Taiwan as part of its own territory. The Chinese military regularly flies fighter jets and bombers near Taiwan to enforce its stance that the island is obliged to unite with the mainland, by force if necessary. The strained relations have also spilled over to the economic realm with China banning pineapples, grouper fish, and other agricultural products from Taiwan for import. But Beijing has largely refrained from targeting Taiwanese companies that operate on the mainland. In August, Foxconn's founder Terry Gou that he would be a frontrunner in next year's Taiwan presidential elections. He then resigned from his seat on the board of Foxconn. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

iPhone maker Foxconn subjected to tax inspections by Chinese authorities

In a move to construct advanced data centres referred to as ‘AI Factories’, Foxconn, Taiwan's contract electronics manufacturer, and Nvidia, the world's leading chipmaker, have announced an innovative partnership. The collaboration aims to employ Nvidia's cutting-edge chips and software for a range of applications, with a focus on enhancing self-driving car technology.&nbsp;

According to a Reuters report, Foxconn Chairman Liu Young-way and Nvidia CEO Jensen Huang unveiled this initiative at Foxconn's annual tech showcase in Taipei. The "AI factories" represent a novel paradigm in manufacturing, with the core mission of producing intelligence. "The data centres that produce it are AI factories," Huang said.&nbsp;

He went on to illustrate the concept with a hand-drawn sketch, highlighting how AI factories will continuously receive and process data from autonomous electric vehicles, thereby making them more intelligent. According to Reuters, he emphasised, "In the future, every company, every industry, will have AI factories."&nbsp;

Nvidia, a company whose shares have tripled in value in 2023, valued at over $1 trillion, will supply the chips and software for these AI factories. Notably, the new "GH200 superchip," renowned for its advanced capabilities, will play a pivotal role in these facilities. Unfortunately, due to recent export restrictions, Nvidia is unable to sell this superchip in China.&nbsp;

This announcement follows the revelation that export restrictions will also impact the sales of two high-end AI chips created for the Chinese market, along with one of their top-tier gaming chips. Nvidia's leadership in AI applications has been a key driver behind its market value's meteoric rise.&nbsp;

Foxconn, a major supplier of Apple's iPhones, aims to replicate its success in assembling personal computers and smartphones by expanding into the production of electric vehicles. Foxconn and Nvidia had previously announced a partnership in January, focusing on developing autonomous vehicle platforms. In this partnership, Foxconn's role involves manufacturing electronic control units (ECUs) for cars based on Nvidia's DRIVE Orin chip for the global market.&nbsp;

Liu Young-way, standing beside Jensen Huang, affirmed that Foxconn is undergoing a transformation from a manufacturing service company to a platform solution company. The applications for AI factories extend beyond self-driving cars, encompassing smart cities and smart manufacturing.&nbsp;

As part of its broader push into the electric vehicle sector, Foxconn introduced a new electric cargo van called Model N, marking its sixth prototype. While the company sets ambitious targets for this venture, it has thus far seen limited orders. Reuters cited Jun Seki, the head of Foxconn's EV business, who disclosed discussions with 14 potential customers in a bid to expand into markets such as India and Japan, considered promising for electric vehicle development.&nbsp;

In the near term, Foxconn aims to capture 5 per cent of the global electric vehicle market, equivalent to $33 billion in revenue from EV manufacturing and components by 2025. However, their long-term vision is even more ambitious: to produce nearly half of the world's electric vehicles.&nbsp;

Foxconn's Tech Day coincides with the birthday of its founder, Terry Gou, a billionaire who stepped down as the company's chief in 2019. Gou is currently running as an independent candidate for Taiwan's presidential elections in January and was conspicuously absent from the event, in contrast to the previous year when he drove onto the stage in a prototype electric vehicle.&nbsp;

Foxconn's stock experienced a minor dip of 0.9 per cent on the day of the announcement, in contrast to the broader market's 1.2 per cent decline.&nbsp;

(With inputs from Reuters)&nbsp;

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In a move to construct advanced data centres referred to as ‘AI Factories’, Foxconn, Taiwan's contract electronics manufacturer, and Nvidia, the world's leading chipmaker, have announced an innovative partnership.

In a move to construct advanced data centres referred to as ‘AI Factories’, Foxconn, Taiwan's contract electronics manufacturer, and Nvidia, the world's leading chipmaker, have announced an innovative partnership. The collaboration aims to employ Nvidia's cutting-edge chips and software for a range of applications, with a focus on enhancing self-driving car technology. According to a Reuters report, Foxconn Chairman Liu Young-way and Nvidia CEO Jensen Huang unveiled this initiative at Foxconn's annual tech showcase in Taipei. The "AI factories" represent a novel paradigm in manufacturing, with the core mission of producing intelligence. "The data centres that produce it are AI factories," Huang said. He went on to illustrate the concept with a hand-drawn sketch, highlighting how AI factories will continuously receive and process data from autonomous electric vehicles, thereby making them more intelligent. According to Reuters, he emphasised, "In the future, every company, every industry, will have AI factories." Nvidia, a company whose shares have tripled in value in 2023, valued at over $1 trillion, will supply the chips and software for these AI factories. Notably, the new "GH200 superchip," renowned for its advanced capabilities, will play a pivotal role in these facilities. Unfortunately, due to recent export restrictions, Nvidia is unable to sell this superchip in China. This announcement follows the revelation that export restrictions will also impact the sales of two high-end AI chips created for the Chinese market, along with one of their top-tier gaming chips. Nvidia's leadership in AI applications has been a key driver behind its market value's meteoric rise. Foxconn, a major supplier of Apple's iPhones, aims to replicate its success in assembling personal computers and smartphones by expanding into the production of electric vehicles. Foxconn and Nvidia had previously announced a partnership in January, focusing on developing autonomous vehicle platforms. In this partnership, Foxconn's role involves manufacturing electronic control units (ECUs) for cars based on Nvidia's DRIVE Orin chip for the global market. Liu Young-way, standing beside Jensen Huang, affirmed that Foxconn is undergoing a transformation from a manufacturing service company to a platform solution company. The applications for AI factories extend beyond self-driving cars, encompassing smart cities and smart manufacturing. As part of its broader push into the electric vehicle sector, Foxconn introduced a new electric cargo van called Model N, marking its sixth prototype. While the company sets ambitious targets for this venture, it has thus far seen limited orders. Reuters cited Jun Seki, the head of Foxconn's EV business, who disclosed discussions with 14 potential customers in a bid to expand into markets such as India and Japan, considered promising for electric vehicle development. In the near term, Foxconn aims to capture 5 per cent of the global electric vehicle market, equivalent to $33 billion in revenue from EV manufacturing and components by 2025. However, their long-term vision is even more ambitious: to produce nearly half of the world's electric vehicles. Foxconn's Tech Day coincides with the birthday of its founder, Terry Gou, a billionaire who stepped down as the company's chief in 2019. Gou is currently running as an independent candidate for Taiwan's presidential elections in January and was conspicuously absent from the event, in contrast to the previous year when he drove onto the stage in a prototype electric vehicle. Foxconn's stock experienced a minor dip of 0.9 per cent on the day of the announcement, in contrast to the broader market's 1.2 per cent decline. (With inputs from Reuters) WATCH WION LIVE HERE

Foxconn and Nvidia collaborate to create 'AI factories' for self-driving cars  

Two industry giants, Foxconn and Nvidia, have come together to shape the future of self-driving cars and data processing. They're embarking on an ambitious journey to build 'AI factories' that will transform the landscape of artificial intelligence, and redefine the way we produce intelligence.

Foxconn and Nvidia's futuristic collaboration

Assembly of Apple's flagship iPhone devices was halted at its Chennai facility in the southern Indian state of Tamil Nadu after a fire incident on Sunday (September 24) night.&nbsp;Apple supplier Pegatron, which runs the facility, was forced to cancel the first two shifts of the new week, Reuters news agency reported.

The Taiwanese firm is yet to inform assembly workers whether they will be called in to operate the third shift of the day or not. In a statement to Reuters, Pegatron confirmed "there was a spark incident" which is currently under control, adding that the&nbsp;incident "does not have significant financial or operational impact" for the company.

"There are no injuries, no casualties nor damage to other assets. The cause of the accident is currently under investigation by (the) relevant authority," Pegatron said.

Notably, Pegatron started assembling iPhones in India in September last year. Buoyed by the success of the plant, the company is in talks to open a second Indian facility for Apple near the current one in Tamil Nadu.&nbsp;

<a href="https://www.wionews.com/videos/apple-to-scale-up-india-production-to-40-billion-639373">Watch |&nbsp;Apple to scale up India production to $40 billion</a>

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<h2>Apple betting big on India&nbsp;</h2>

Apple has been betting big on India to expand its market. It started iPhone assembly in the country, way back in 2017 via Wistron and later Foxconn.&nbsp;&nbsp;

According to reports, the Cupertino-based company is planning to&nbsp;expand its investment in the country to approximately $40 billion over the next four to five years.

The company is looking to expand its horizon beyond the current iPhone manufacturing and&nbsp;assembling operations. The company now intends to&nbsp;begin the production of Airpods in the coming year. However, there are currently no immediate plans to manufacture iPads or laptops within India.

<a href="https://www.wionews.com/technology/apple-embraces-usb-c-replaces-lightning-port-after-years-of-pushback-635417">Also read |&nbsp;Apple embraces USB-C charger, replaces Lightning connector after years of pushback</a>

Apple's commitment to India is evident in its recent product launches. On September 22, 2023, Apple introduced the highly anticipated iPhone 15 series, featuring the iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max, which hit stores in India and various other countries simultaneously.

Remarkably, Apple released the India-built iPhone 15 models on the same day they became available worldwide, underscoring India's importance in Apple's global production and distribution network.

(With inputs from agencies)

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Assembly of Apple's flagship iPhone devices was halted at its Chennai facility in the southern Indian state of Tamil Nadu after a fire incident on Sunday (September 24) night.

Assembly of Apple's flagship iPhone devices was halted at its Chennai facility in the southern Indian state of Tamil Nadu after a fire incident on Sunday (September 24) night. Apple supplier Pegatron, which runs the facility, was forced to cancel the first two shifts of the new week, Reuters news agency reported. The Taiwanese firm is yet to inform assembly workers whether they will be called in to operate the third shift of the day or not. In a statement to Reuters, Pegatron confirmed "there was a spark incident" which is currently under control, adding that the incident "does not have significant financial or operational impact" for the company. "There are no injuries, no casualties nor damage to other assets. The cause of the accident is currently under investigation by (the) relevant authority," Pegatron said. Notably, Pegatron started assembling iPhones in India in September last year. Buoyed by the success of the plant, the company is in talks to open a second Indian facility for Apple near the current one in Tamil Nadu. Watch | Apple to scale up India production to $40 billion × Apple betting big on India Apple has been betting big on India to expand its market. It started iPhone assembly in the country, way back in 2017 via Wistron and later Foxconn. According to reports, the Cupertino-based company is planning to expand its investment in the country to approximately $40 billion over the next four to five years. The company is looking to expand its horizon beyond the current iPhone manufacturing and assembling operations. The company now intends to begin the production of Airpods in the coming year. However, there are currently no immediate plans to manufacture iPads or laptops within India. Also read | Apple embraces USB-C charger, replaces Lightning connector after years of pushback Apple's commitment to India is evident in its recent product launches. On September 22, 2023, Apple introduced the highly anticipated iPhone 15 series, featuring the iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max, which hit stores in India and various other countries simultaneously. Remarkably, Apple released the India-built iPhone 15 models on the same day they became available worldwide, underscoring India's importance in Apple's global production and distribution network. (With inputs from agencies) WATCH WION LIVE HERE:

India: iPhone assembly halted at Apple's Pegatron plant in Chennai after fire

Foxconn, the Taiwan-based iPhone supplier,&nbsp;is planning a two-fold increase in its workforce in India in the next twelve months, according to a Mint report.

To commemorate Indian Prime Minister Narendra Modi’s 73rd birthday, V Lee, Foxconn's representative in India, wrote on LinkedIn that the company is "aiming for another doubling of employment, FDI (foreign direct investment), and business size in India" by this time next year.

The largest electronics contract manufacturer in the world, Foxconn has been&nbsp;increasing&nbsp;its investments in India, in an attempt&nbsp;to diversify away from China.

Notably, Foxconn already operates a 40,000-person iPhone manufacturing in the southern state of Tamil Nadu.

In August this year, the Karnataka government said that Foxconn intends&nbsp;to invest $600 million in two projects to produce chip-making machinery and iPhone case components.

Earlier this month, Young Liu, Chairman and CEO of Hon Hai Technology Group (Foxconn) said that India will play a significant role in manufacturing in the future.

A PTI report quoted him as saying it took China 30 years to build the entire supply chain ecosystem but&nbsp;it will take an "appropriate amount of time in India". He added the process will be shorter in Asia's third-largest economy.&nbsp;

Meanwhile, the South Asian nation will be able to purchase the India-made iPhone 15 on the day that it goes on sale globally, according to previous reports by Bloomberg.

Reports indicate that even if the vast majority of iPhone 15s will be made in China, it would be the first time that a gadget of the most recent generation, that too made in India, will be offered on the first day of sales in India.&nbsp;

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Foxconn, the Taiwan-based iPhone supplier, is planning a two-fold increase in its workforce in India in the next twelve months, according to a Mint report. To commemorate Indian Prime Minister Narendra Modi’s 73rd birthday, V Lee, Foxconn's representative in India, wrote on LinkedIn that the company is "aiming for another doubling of employment, FDI (foreign direct investment), and business size in India" by this time next year.

Foxconn, the Taiwan-based iPhone supplier, is planning a two-fold increase in its workforce in India in the next twelve months, according to a Mint report. To commemorate Indian Prime Minister Narendra Modi’s 73rd birthday, V Lee, Foxconn's representative in India, wrote on LinkedIn that the company is "aiming for another doubling of employment, FDI (foreign direct investment), and business size in India" by this time next year. The largest electronics contract manufacturer in the world, Foxconn has been increasing its investments in India, in an attempt to diversify away from China. Notably, Foxconn already operates a 40,000-person iPhone manufacturing in the southern state of Tamil Nadu. In August this year, the Karnataka government said that Foxconn intends to invest $600 million in two projects to produce chip-making machinery and iPhone case components. Earlier this month, Young Liu, Chairman and CEO of Hon Hai Technology Group (Foxconn) said that India will play a significant role in manufacturing in the future. A PTI report quoted him as saying it took China 30 years to build the entire supply chain ecosystem but it will take an "appropriate amount of time in India". He added the process will be shorter in Asia's third-largest economy. Meanwhile, the South Asian nation will be able to purchase the India-made iPhone 15 on the day that it goes on sale globally, according to previous reports by Bloomberg. Reports indicate that even if the vast majority of iPhone 15s will be made in China, it would be the first time that a gadget of the most recent generation, that too made in India, will be offered on the first day of sales in India. WATCH WION LIVE HERE

Foxconn plans to increase its employees by two-fold in India by next year

Foxconn the world's largest contract manufacturer of electronics is making a significant push to expand its presence in India. The Taiwan-based company known for its manufacturing partnership with Apple already employs 40,000 people in an iPhone Factory in Tamil Nadu.

Foxconn plans to double workforce and investments in India

Taiwanese technology services provider Foxconn's chairman and chief executive officer (CEO) Young Liu has said that India is poised to emerge as the new manufacturing centre in the world, with the supplier ecosystem likely to develop faster than the time it took to come up in China, Indian media reported on Wednesday (September 6).

Taiwanese technology services provider Foxconn's chairman and chief executive officer (CEO) Young Liu has said that India is poised to emerge as the new manufacturing centre in the world, with the supplier ecosystem likely to develop faster than the time it took to come up in China, Indian media reported on Wednesday (September 6). According to a report by the Times of India (TOI), Liu said that Foxconn would expand its operations in India as business grows in higher consumer purchases. Liu added that Foxconn, which is a major supplier of Apple products, continues to expand its presence in India in response to customer needs. He also said that the supply chain ecosystem, which took over three decades to build in China, is likely to come up faster in India. "There are huge opportunities for the local electronics industry to develop,” the Foxxcon chairman added, TOI reported. Foxconn has been operating in India since 2005, and Liu has time and again emphasised the growing proximity between India and Taiwan. On July 28, Liu met Indian Prime Minister Narendra Modi in Gujarat's Gandhinagar. Prime Minister Modi welcomed the company's plans to expand semiconductor and chip manufacturing capacity in India. Foxconn's Q3 outlook better Foxconn said on Tuesday that revenue in August fell eight per cent year-on-year but the forecast is of a better business outlook ahead of new product releases by Apple. The company said that revenue last month reached $12.93 billion, down 12 per cent from July. "With the second half of the year peak season currently underway, operations will gradually ramp up," Foxconn said. "The outlook for the third quarter, which will be better than the second quarter, is expected to increase at an on-quarter pace higher than the average level of the previous two years," it added. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

India to emerge as new manufacturing centre in the world: Foxconn Chairman Liu

India's push to become a manufacturing hub has got a big thumbs up from the Taiwanese tech giant Foxconn. The company's chairman and CEO, Young Liu, has reiterated that India will emerge as the new manufacturing centre in the world.

Foxconn backs 'make in India'

Terry Gou, the billionaire creator of Foxconn, declared on Monday that he will run as an independent for president of Taiwan in the election set for January 2024. Gou, the richest person in the self-ruled democracy, has long had political aspirations and left Foxconn in 2019 in an effort to win the main opposition Kuomintang (KMT)'s nomination for the most recent election.

Terry Gou: Will not let Taiwan become the next Ukraine

Foxconn founder Terry Gou announces run for Taiwan presidency

Foxconn, the global electronics manufacturing giant, has set its sights on the southern state of Tamil Nadu. With an investment worth 194 million dollars, Foxconn, apple’s main supplier, plans to build a state-of-the-art electronic component manufacturing facility in the Kancheepuram district near Chennai, India. This venture is expected to create an impressive 6,000 job opportunities.

Foxconn's $194 MN manufacturing hub

Senior Officials from Taiwanese electronics contract-manufacturing firm Hon Hai Technology Group&nbsp;(Foxconn) met the Chief Minister of the Southern Indian state of Tamil Nadu and inked a pact to set up a $200mn facility. With the potential to create 6,000 jobs, this facility is expected to come up in the Kanchipuram district, near the capital city of Chennai.&nbsp;Foxconn Group Chairman Young Liu met Tamil Nadu Chief Minister MK Stalin and senior government officials&nbsp;regarding this deal.&nbsp;

The Letter of Intent (LoI) inked by Foxconn and Guidance Tamil Nadu (the state Government's nodal agency for investment promotion), is for establishing a facility to manufacture components for mobile phones.&nbsp;

"Foxconn’s repeated investments and expansion plans in Tamil Nadu are a testament to the state being the top choice for manufacturing in India for major companies across the world. This is a major achievement for the state," said Tamil Nadu's Industries Minister TRB Rajaa.&nbsp;&nbsp;

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Tamil Nadu takes the crown as India's electronic goods export powerhouse, achieving an incredible milestone by exporting electronic goods worth $5.37 billion. 
 
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"With this proposed investment and many more to come, Tamil Nadu is poised to not only remain the top electronics exporter in the country but also significantly increase its electronics exports in the coming years. This will play a critical role in attaining our Honourable Chief Minister Thiru MK&nbsp;Stalin's ambition of a One Trillion USD economy in Tamil Nadu," he added.&nbsp;

Foxconn already operates an Apple iPhone assembly facility in Sriperumbudur, on Chennai's outskirts. According to the data from the Indian government, Tamil Nadu topped the charts as the leading electronics exporter in the country. For the year 2022-23, the value of electronics exported touched $5.37bn or Rs&nbsp;44,044cr.&nbsp;&nbsp;

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Senior Officials from Taiwanese electronics contract-manufacturing firm Hon Hai Technology Group (Foxconn) met the Chief Minister of the Southern Indian state of Tamil Nadu and inked a pact to set up a $200mn facility.

Senior Officials from Taiwanese electronics contract-manufacturing firm Hon Hai Technology Group (Foxconn) met the Chief Minister of the Southern Indian state of Tamil Nadu and inked a pact to set up a $200mn facility. With the potential to create 6,000 jobs, this facility is expected to come up in the Kanchipuram district, near the capital city of Chennai. Foxconn Group Chairman Young Liu met Tamil Nadu Chief Minister MK Stalin and senior government officials regarding this deal. The Letter of Intent (LoI) inked by Foxconn and Guidance Tamil Nadu (the state Government's nodal agency for investment promotion), is for establishing a facility to manufacture components for mobile phones. "Foxconn’s repeated investments and expansion plans in Tamil Nadu are a testament to the state being the top choice for manufacturing in India for major companies across the world. This is a major achievement for the state," said Tamil Nadu's Industries Minister TRB Rajaa. Tamil Nadu takes the crown as India's electronic goods export powerhouse, achieving an incredible milestone by exporting electronic goods worth $5.37 billion. With a relentless focus on fostering innovation, attracting investments, and nurturing entrepreneurship, (1/2) pic.twitter.com/0GVpg4s8xd — Guidance Tamil Nadu (@Guidance_TN) July 4, 2023 × "With this proposed investment and many more to come, Tamil Nadu is poised to not only remain the top electronics exporter in the country but also significantly increase its electronics exports in the coming years. This will play a critical role in attaining our Honourable Chief Minister Thiru MK Stalin's ambition of a One Trillion USD economy in Tamil Nadu," he added. Foxconn already operates an Apple iPhone assembly facility in Sriperumbudur, on Chennai's outskirts. According to the data from the Indian government, Tamil Nadu topped the charts as the leading electronics exporter in the country. For the year 2022-23, the value of electronics exported touched $5.37bn or Rs 44,044cr. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Taiwan's Foxconn to make phone components at $200mn facility in this Indian state

Foxconn Industrial Internet (FII), a&nbsp;subsidiary of the Taiwanese electronics manufacturing giant Foxconn, is proposing an investment of up to $200 million to establish an electronic components plant in the southern Indian city of Chennai.

According to Reuters, the CEO of FII, Brand Cheng, and other corporate representatives met last week with MK Stalin, Chief Minister of Tamil Nadu, and other government leaders are to discuss the investment.

The Taiwan-based corporation plans to finish constructing the plant by 2024, followed by additional expenditures anticipated. However, the final decision is yet to be concluded.

Currently, Foxconn assembles iPhones for Apple at a unit not far from Chennai.

This development comes a week after the south Indian state of Karnataka announced that FII had agreed to invest $1.07 billion in a new facility. Foxconn is also in discussion with officials from the western Indian state of Gujarat, where it looks to enter India’s semiconductor sector.

Just a few weeks back, Foxconn had withdrawn from a $19.5 billion semiconductor&nbsp;joint venture with Vedanta, a company supported by billionaire Anil Agarwal, claiming “the project was not moving fast enough”.&nbsp;&nbsp;

The Taiwanese electronics manufacturer stated that it was attempting to submit a separate application for the establishment of a semiconductor facility in India.

(With inputs from Reuters)&nbsp;

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Foxconn Industrial Internet (FII), a subsidiary of the Taiwanese electronics manufacturing giant Foxconn, is proposing an investment of up to $200 million to establish an electronic components plant in the southern Indian city of Chennai.

Foxconn Industrial Internet (FII), a subsidiary of the Taiwanese electronics manufacturing giant Foxconn, is proposing an investment of up to $200 million to establish an electronic components plant in the southern Indian city of Chennai. According to Reuters, the CEO of FII, Brand Cheng, and other corporate representatives met last week with MK Stalin, Chief Minister of Tamil Nadu, and other government leaders are to discuss the investment. The Taiwan-based corporation plans to finish constructing the plant by 2024, followed by additional expenditures anticipated. However, the final decision is yet to be concluded. Currently, Foxconn assembles iPhones for Apple at a unit not far from Chennai. This development comes a week after the south Indian state of Karnataka announced that FII had agreed to invest $1.07 billion in a new facility. Foxconn is also in discussion with officials from the western Indian state of Gujarat, where it looks to enter India’s semiconductor sector. Just a few weeks back, Foxconn had withdrawn from a $19.5 billion semiconductor joint venture with Vedanta, a company supported by billionaire Anil Agarwal, claiming “the project was not moving fast enough”. The Taiwanese electronics manufacturer stated that it was attempting to submit a separate application for the establishment of a semiconductor facility in India. (With inputs from Reuters) WATCH WION LIVE HERE

Foxconn to invest $200 million to establish electronic components plant in Tamil Nadu

Signs of Apple's Interest in India expansion are now distinctly visible. India is on its way to becoming Apple's new favourite destination for iPhone production. Foxconn has bought equipment worth 33 million dollars from Apple units for India expansion this clearly indicates an India-centric strategy.

Foxconn accelerates India expansion plans as company buys equipment from Apple

Foxconn & Vedanta's $19.5 billion deal has turned sour. Foxconn says the two companies have mutually decided to scrap it. What went wrong?

Gravitas: Why did the Foxconn-Vedanta deal turn sour?

Taiwan's Foxconn has decided to withdraw from a $19.5 billion semiconductor joint venture with Vedanta, the latest business challenge for the Indian conglomerate led by Chairman Anil Agarwal.

Here are some details on Vedanta and its recent challenges:

<h2>How Vedanta started</h2>

Anil Agarwal started his business in Mumbai as a scrap-metal dealer and bought his first company, a cable manufacturing unit, in 1976. He then expanded his empire across India, Zambia, Namibia, Ireland and South Africa and later entered the oil and gas sector.

Also read | <a href="https://www.wionews.com/business-economy/foxconn-pulls-out-of-195bn-semiconductor-plant-in-india-minister-says-wont-impact-fab-goals-613964">Foxconn pulls out of $19.5bn semiconductor deal in India, minister says ‘won’t impact fab goals’</a>

London-headquartered Vedanta Resources controls the India unit, Vedanta Ltd. Agarwal took Vedanta Resources private in 2018. As of 2022, his net worth was $2 billion, ranking him 97th among India's richest, according to Forbes.

Vedanta diversified in 2017 when it bought a stake in Japan's LCD glass substrate manufacturer AvanStrate. Agarwal's son-in-law Akarsh Hebbar currently heads Vedanta's display and semiconductor business.

<h2>Debt woes</h2>

Vedanta Resources has been plagued by a rising debt pile. Credit ratings agency Moody's downgraded its rating on the company, while others raised concern about risks of a debt default.

Agarwal said in March there have been no debt defaults by the group. Vedanta's gross debt stood at $6.8 billion as of April end, after the company completed 75 per cent of its debt reduction commitment.

<h2>Foxconn JV</h2>

Vedanta-Foxconn had sought incentives from Prime Minister Narendra Modi's government and several Indian states for its Foxconn JV to manufacture semiconductors.

Foxconn pulled out of the JV on Monday, less than a year after it was a signed. Concerns about incentive approval delays by India's government aided Foxconn's decision to pull out of the venture, a source familiar with the matter told Reuters.

Reuters reported in June that the JV was proceeding slowly as Vedanta-Foxconn had got on board STMicroelectronics for licensing technology, but India's government wanted the European chipmaker to have a bigger role, like a stake in the partnership.

<h2>Other disputes</h2>

Vedanta's copper smelter in Tamil Nadu was shut down after 13 people died in 2018 when police fired on environmental protesters calling for the closure of the plant. Vedanta has now offered to sell the plant, having repeatedly denied allegations of the smelter being polluting.

Activists and locals have for years blocked Vedanta's plans to mine bauxite in the green, jungle-clad Niyamgiri hills in Odisha state in eastern India which the tribe people consider sacred.

In Zambia, a long-running dispute over Vedanta's Konkola Copper Mines (KCM) is close to being resolved, mines minister Paul Kabuswe said earlier this month. Relations between Zambia and Vedanta broke down several years ago and culminated in the state appointing a liquidator for the KCM assets in May 2019.

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Taiwan's Foxconn has decided to withdraw from a $19.5 billion semiconductor joint venture with Vedanta, the latest business challenge for the Indian conglomerate led by Chairman Anil Agarwal.

Taiwan's Foxconn has decided to withdraw from a $19.5 billion semiconductor joint venture with Vedanta, the latest business challenge for the Indian conglomerate led by Chairman Anil Agarwal. Here are some details on Vedanta and its recent challenges: How Vedanta started Anil Agarwal started his business in Mumbai as a scrap-metal dealer and bought his first company, a cable manufacturing unit, in 1976. He then expanded his empire across India, Zambia, Namibia, Ireland and South Africa and later entered the oil and gas sector. Also read | Foxconn pulls out of $19.5bn semiconductor deal in India, minister says ‘won’t impact fab goals’ London-headquartered Vedanta Resources controls the India unit, Vedanta Ltd. Agarwal took Vedanta Resources private in 2018. As of 2022, his net worth was $2 billion, ranking him 97th among India's richest, according to Forbes. Vedanta diversified in 2017 when it bought a stake in Japan's LCD glass substrate manufacturer AvanStrate. Agarwal's son-in-law Akarsh Hebbar currently heads Vedanta's display and semiconductor business. Debt woes Vedanta Resources has been plagued by a rising debt pile. Credit ratings agency Moody's downgraded its rating on the company, while others raised concern about risks of a debt default. Agarwal said in March there have been no debt defaults by the group. Vedanta's gross debt stood at $6.8 billion as of April end, after the company completed 75 per cent of its debt reduction commitment. Foxconn JV Vedanta-Foxconn had sought incentives from Prime Minister Narendra Modi's government and several Indian states for its Foxconn JV to manufacture semiconductors. Foxconn pulled out of the JV on Monday, less than a year after it was a signed. Concerns about incentive approval delays by India's government aided Foxconn's decision to pull out of the venture, a source familiar with the matter told Reuters. Reuters reported in June that the JV was proceeding slowly as Vedanta-Foxconn had got on board STMicroelectronics for licensing technology, but India's government wanted the European chipmaker to have a bigger role, like a stake in the partnership. Other disputes Vedanta's copper smelter in Tamil Nadu was shut down after 13 people died in 2018 when police fired on environmental protesters calling for the closure of the plant. Vedanta has now offered to sell the plant, having repeatedly denied allegations of the smelter being polluting. Activists and locals have for years blocked Vedanta's plans to mine bauxite in the green, jungle-clad Niyamgiri hills in Odisha state in eastern India which the tribe people consider sacred. In Zambia, a long-running dispute over Vedanta's Konkola Copper Mines (KCM) is close to being resolved, mines minister Paul Kabuswe said earlier this month. Relations between Zambia and Vedanta broke down several years ago and culminated in the state appointing a liquidator for the KCM assets in May 2019. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Troubles mount for Indian tycoon Anil Agarwal’s Vedanta as Foxconn ditches JV

Global electronics manufacturer Foxconn has withdrawn from a 19.5 billion dollar semiconductor joint venture with Indian conglomerate Vedanta, causing a significant setback to Prime Minister Narendra Modi's plans to boost chip making in India.

'Make in India' campaign impacted by Foxconn withdrawing from Indian venture

A day after pulling out of a joint venture deal with Indian conglomerate Vedanta, Taiwan's Foxconn released a statement saying that it plans on applying for incentives under India's semiconductor manufacturing plan.

Foxconn, on Monday, pulled out of the JV with Indian metals-to-oil conglomerate Vedanta.

Last year, Vedanta and Foxconn had signed an agreement to invest $19.5 billion to set up semiconductor and display production plants in western Gujarat state in a bid to help India become a major electronics hub.

In a statement on Monday, the company said it is working to remove the Foxconn name from the joint venture which is now a fully-owned entity of Vedanta.

"Foxconn has no connection to the entity and efforts to keep its original name will cause confusion for future stakeholders," Hon Hai Technology Group (Foxconn) said.

It said that for over a year, the Taiwanese company and Vedanta have been working hard to bring a great semiconductor idea to reality.

“It has been a fruitful experience that can position both companies strongly going forward.”

“In order to explore more diverse development opportunities, according to a mutual agreement, Foxconn has determined it will not move forward on the joint venture with Vedanta,” it said.

The electronics giant on Tuesday said that it was working towards applying under India's Modified Programme for Semiconductors and Display Fab Ecosystem, a $10 billion plan proposing incentives of up to 50 per cent&nbsp;of capital costs for semiconductor and display manufacturing projects.

Also read: <a href="https://www.wionews.com/business-economy/foxconn-pulls-out-of-195bn-semiconductor-plant-in-india-minister-says-wont-impact-fab-goals-613964">Foxconn pulls out of $19.5bn semiconductor deal in India, minister says ‘won’t impact fab goals’</a>

"We have been actively reviewing the landscape for optimal partners," it said in a statement. "Foxconn is committed to India and sees the country successfully establishing a robust semiconductor manufacturing ecosystem."&nbsp;

<h2>Foxconn split, a setback to PM Modi's chipmaking plans for India</h2>

Foxconn's split with Vedanta is a setback for Indian Prime Minister Narendra Modi who made chipmaking a top priority in quest of a "new era" in electronics manufacturing. Modi lauded the JV last year as an "important step" in revving India's semiconductor manufacturing initiatives.

As per news agency Reuters reports, the company is in talks with several local and international partners to make semiconductors in India using mature chip manufacturing technology for products including EVs, two people with knowledge of the matter said, requesting anonymity.

"The company will continue to be there, just that it will find other partners," one of the people said.&nbsp;

Elucidating the reason behind the separation, Foxconn said, "There was recognition from both sides that the project was not moving fast enough" and there were other "challenging gaps we were not able to smoothly overcome."

"This is not a negative," Foxconn added.

(With inputs from agencies)

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A day after pulling out of a joint venture deal with Indian conglomerate Vedanta, Taiwan's Foxconn released a statement saying that it plans on applying for incentives under India's semiconductor manufacturing plan.

A day after pulling out of a joint venture deal with Indian conglomerate Vedanta, Taiwan's Foxconn released a statement saying that it plans on applying for incentives under India's semiconductor manufacturing plan. Foxconn, on Monday, pulled out of the JV with Indian metals-to-oil conglomerate Vedanta. Last year, Vedanta and Foxconn had signed an agreement to invest $19.5 billion to set up semiconductor and display production plants in western Gujarat state in a bid to help India become a major electronics hub. In a statement on Monday, the company said it is working to remove the Foxconn name from the joint venture which is now a fully-owned entity of Vedanta. "Foxconn has no connection to the entity and efforts to keep its original name will cause confusion for future stakeholders," Hon Hai Technology Group (Foxconn) said. It said that for over a year, the Taiwanese company and Vedanta have been working hard to bring a great semiconductor idea to reality. “It has been a fruitful experience that can position both companies strongly going forward.” “In order to explore more diverse development opportunities, according to a mutual agreement, Foxconn has determined it will not move forward on the joint venture with Vedanta,” it said. The electronics giant on Tuesday said that it was working towards applying under India's Modified Programme for Semiconductors and Display Fab Ecosystem, a $10 billion plan proposing incentives of up to 50 per cent of capital costs for semiconductor and display manufacturing projects. Also read: Foxconn pulls out of $19.5bn semiconductor deal in India, minister says ‘won’t impact fab goals’ "We have been actively reviewing the landscape for optimal partners," it said in a statement. "Foxconn is committed to India and sees the country successfully establishing a robust semiconductor manufacturing ecosystem." Foxconn split, a setback to PM Modi's chipmaking plans for India Foxconn's split with Vedanta is a setback for Indian Prime Minister Narendra Modi who made chipmaking a top priority in quest of a "new era" in electronics manufacturing. Modi lauded the JV last year as an "important step" in revving India's semiconductor manufacturing initiatives. As per news agency Reuters reports, the company is in talks with several local and international partners to make semiconductors in India using mature chip manufacturing technology for products including EVs, two people with knowledge of the matter said, requesting anonymity. "The company will continue to be there, just that it will find other partners," one of the people said. Elucidating the reason behind the separation, Foxconn said, "There was recognition from both sides that the project was not moving fast enough" and there were other "challenging gaps we were not able to smoothly overcome." "This is not a negative," Foxconn added. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Foxconn eyes incentives under India's chip scheme after withdrawing from $19.5bn semiconductor deal

Taiwanese firm Foxconn on Monday said that it was pulling out of a joint venture deal with Indian conglomerate Vedanta to set up a semiconductor plant in western Gujarat state.

Last year, Vedanta and Foxconn signed an agreement to invest $19.5 billion to set up semiconductor and display production plants in Prime Minister Narendra Modi’s home state&nbsp;in a bid to help India become a major electronics hub.

In a statement on Monday, the company said it is working to remove the Foxconn name from the joint venture which is now a fully-owned entity of Vedanta.

"Foxconn has no connection to the entity and efforts to keep its original name will cause confusion for future stakeholders," Hon Hai Technology Group (Foxconn) said.

It said that for&nbsp;over a year, the Taiwanese company and Vedanta have been working&nbsp;hard to bring a great semiconductor idea to reality.

“It has been a fruitful experience that can position both companies strongly going forward.”

“In order to explore more diverse development opportunities, according to a mutual agreement, Foxconn has determined it will not move forward on the joint venture with Vedanta,” it said.

<h2>After Apple, Foxconn, Cisco bets big on India</h2>

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<h2>Blow to Make in India's ambitions?</h2>

The company further said that it “will continue to strongly support the government's 'Make In India' ambitions and establish a diversity of local partnerships that meet the needs of stakeholders”.

While the development might impede India’s plans to become a semiconductor hub, India’s junior IT and electronics minister Rajeev Chandrasekhar said he was optimistic that Foxconn’s decision will have little to no impact on the country’s plans.

"This decision of Foxconn to withdraw from its JV with Vedanta has no impact on India's semiconductor fab goals. None," he tweeted.

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet">
➡️This decision of Foxconn to withdraw from its JV wth Vedanta has no impact on India's <a href="https://twitter.com/hashtag/Semiconductor?src=hash&amp;ref_src=twsrc%5Etfw">#Semiconductor</a> Fab goals. None. 
 
➡️Both Foxconn n Vedanta have significant investments in India and are valued investors who are creating jobs n growth. 
 
➡️It was well known that both… <a href="https://t.co/0DQrwXeCIr">https://t.co/0DQrwXeCIr</a>
— Rajeev Chandrasekhar 🇮🇳 (@Rajeev_GoI) <a href="https://twitter.com/Rajeev_GoI/status/1678389567504916480?ref_src=twsrc%5Etfw">July 10, 2023</a></blockquote>
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He said that both companies have significant investments in India and are "valued investors who are creating jobs and growth".

"It was well known that both companies had no prior semicon experience or technology and were expected to source fab tech from a tech partner. While their JV VFSL had originally submitted a proposal for 28nm fab, they could not source an appropriate tech partner for that proposal (sic)," Chandrasekhar said.

Vedanta, on the other hand, said that it is "fully committed to its semiconductor fab project," after Foxconn's exit announcement.

“Vedanta reiterates that it is fully committed to its semiconductor fab project and we have lined up other partners to set up India’s first foundry," it said in a statement.

"We will continue to grow our semiconductor team, and we have the license for production-grade technology for 40 nm from a prominent Integrated Device Manufacturer (IDM). We will shortly acquire a license for production-grade 28 nm as well."

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Taiwanese firm Foxconn on Monday said that it was pulling out of a joint venture deal with Indian conglomerate Vedanta to set up a semiconductor plant in western Gujarat state.

Taiwanese firm Foxconn on Monday said that it was pulling out of a joint venture deal with Indian conglomerate Vedanta to set up a semiconductor plant in western Gujarat state. Last year, Vedanta and Foxconn signed an agreement to invest $19.5 billion to set up semiconductor and display production plants in Prime Minister Narendra Modi’s home state in a bid to help India become a major electronics hub. In a statement on Monday, the company said it is working to remove the Foxconn name from the joint venture which is now a fully-owned entity of Vedanta. "Foxconn has no connection to the entity and efforts to keep its original name will cause confusion for future stakeholders," Hon Hai Technology Group (Foxconn) said. It said that for over a year, the Taiwanese company and Vedanta have been working hard to bring a great semiconductor idea to reality. “It has been a fruitful experience that can position both companies strongly going forward.” “In order to explore more diverse development opportunities, according to a mutual agreement, Foxconn has determined it will not move forward on the joint venture with Vedanta,” it said. After Apple, Foxconn, Cisco bets big on India Blow to Make in India's ambitions? The company further said that it “will continue to strongly support the government's 'Make In India' ambitions and establish a diversity of local partnerships that meet the needs of stakeholders”. While the development might impede India’s plans to become a semiconductor hub, India’s junior IT and electronics minister Rajeev Chandrasekhar said he was optimistic that Foxconn’s decision will have little to no impact on the country’s plans. "This decision of Foxconn to withdraw from its JV with Vedanta has no impact on India's semiconductor fab goals. None," he tweeted. ➡️This decision of Foxconn to withdraw from its JV wth Vedanta has no impact on India's #Semiconductor Fab goals. None. ➡️Both Foxconn n Vedanta have significant investments in India and are valued investors who are creating jobs n growth. ➡️It was well known that both… https://t.co/0DQrwXeCIr — Rajeev Chandrasekhar 🇮🇳 (@Rajeev_GoI) July 10, 2023 × He said that both companies have significant investments in India and are "valued investors who are creating jobs and growth". "It was well known that both companies had no prior semicon experience or technology and were expected to source fab tech from a tech partner. While their JV VFSL had originally submitted a proposal for 28nm fab, they could not source an appropriate tech partner for that proposal (sic)," Chandrasekhar said. Vedanta, on the other hand, said that it is "fully committed to its semiconductor fab project," after Foxconn's exit announcement. “Vedanta reiterates that it is fully committed to its semiconductor fab project and we have lined up other partners to set up India’s first foundry," it said in a statement. "We will continue to grow our semiconductor team, and we have the license for production-grade technology for 40 nm from a prominent Integrated Device Manufacturer (IDM). We will shortly acquire a license for production-grade 28 nm as well." WATCH WION LIVE HERE

Foxconn pulls out of $19.5bn semiconductor deal in India, minister says ‘won’t impact fab goals’

A former Samsung executive has been indicted for stealing secrets from his former employer to help his client -- Taiwan's leading chip maker Foxconn. South Korean prosecutors allege that the theft caused a loss of over 200 million dollars to Samsung electronics, which is the world's biggest chipmaker. As per an unreleased indictment report, accessed by Reuters, Choi Jinseog is alleged to have stolen Samsung's trade secrets and details about the planned Foxconn plant. However, he has denied all charges.

Ex-Samsung executive accused of stealing secrets

Foxconn, the iPhone maker, is set to make significant investments in electric cars in a bid to diversify its manufacturing capabilities amid souring US-China ties.

Foxconn's boss has said that it intends to capture about five&nbsp;per cent of the global electric vehicle market in the next few years

Foxconn car factories will be based in Ohio in the US, Thailand, Indonesia and perhaps even in India, it was revealed.

The development comes amid tumultuous US-China ties.

Also read |&nbsp;<a href="https://www.wionews.com/world/foxconn-founder-pushed-china-to-loosen-covid-19-restrictions-says-report-541431">Foxconn founder pushed China to loosen COVID-19 restrictions, says report</a>

"We hope peace and stability will be something the leaders of these two countries [the United States and China] will keep in mind," 67-year-old Young Liu, CEO and Chairman of Foxconn, told the BBC from his office&nbsp;in Taipei, Taiwan's capital.

"But as a business, as a CEO, I have to think about what if the worst case happens?" he reportedly added.

<h2>What are the 'worst case' scenarios?</h2>

The 'worst case' scenarios include a full-blown invasion of the self-ruled island of Taiwan, which China claims as its own.

Beijing has aggressively asserted its claims over the territories governed by Taipei.&nbsp;

Since 2019, China has made regular incursions into Taiwan's self-claimed Air Defence Identification Zone (ADIZ) on a regular basis.

The aforementioned developments are reportedly putting pressure on Foxconn’s business.

Also watch |&nbsp;WION Business News | China: Foxconn plant to increase bonuses if workers remain at the plant

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The United States and its allies have called for countries and companies to "de-risk" from China.&nbsp;

"They get the push from their government about de-risking, and then they will let us know," Liu was quoted as saying by the BBC.

<h2>Foxconn's business interests and clientele&nbsp;</h2>

Foxconn, or Hon Hai Technology Group, as it is officially known, started off in 1974&nbsp;as a manufacturer of knobs for televisions.&nbsp;

It is now one of the world's most powerful technology companies, with an annual revenue of $200 billion.

Foxconn makes more than half of Apple's products, from iPhones to iMacs. Its factories in China make some of the most essential parts of the device - camera modules, connectors, and even the back of the phone casing.

Foxconn also counts Microsoft, Sony, Dell and Amazon among its clients.

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Foxconn, the iPhone maker, is set to make significant investments in electric cars in a bid to diversify its manufacturing capabilities amid souring US-China ties.

Foxconn, the iPhone maker, is set to make significant investments in electric cars in a bid to diversify its manufacturing capabilities amid souring US-China ties. Foxconn's boss has said that it intends to capture about five per cent of the global electric vehicle market in the next few years Foxconn car factories will be based in Ohio in the US, Thailand, Indonesia and perhaps even in India, it was revealed. The development comes amid tumultuous US-China ties. Also read | Foxconn founder pushed China to loosen COVID-19 restrictions, says report "We hope peace and stability will be something the leaders of these two countries [the United States and China] will keep in mind," 67-year-old Young Liu, CEO and Chairman of Foxconn, told the BBC from his office in Taipei, Taiwan's capital. "But as a business, as a CEO, I have to think about what if the worst case happens?" he reportedly added. What are the 'worst case' scenarios? The 'worst case' scenarios include a full-blown invasion of the self-ruled island of Taiwan, which China claims as its own. Beijing has aggressively asserted its claims over the territories governed by Taipei. Since 2019, China has made regular incursions into Taiwan's self-claimed Air Defence Identification Zone (ADIZ) on a regular basis. The aforementioned developments are reportedly putting pressure on Foxconn’s business. Also watch | WION Business News | China: Foxconn plant to increase bonuses if workers remain at the plant × The United States and its allies have called for countries and companies to "de-risk" from China. "They get the push from their government about de-risking, and then they will let us know," Liu was quoted as saying by the BBC. Foxconn's business interests and clientele Foxconn, or Hon Hai Technology Group, as it is officially known, started off in 1974 as a manufacturer of knobs for televisions. It is now one of the world's most powerful technology companies, with an annual revenue of $200 billion. Foxconn makes more than half of Apple's products, from iPhones to iMacs. Its factories in China make some of the most essential parts of the device - camera modules, connectors, and even the back of the phone casing. Foxconn also counts Microsoft, Sony, Dell and Amazon among its clients. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Foxconn electric cars soon? iPhone maker to ride on EV bandwagon amid sour US-China ties

Apple supplier Foxconn is ramping up efforts at&nbsp;recruitment and retaining employees&nbsp;at the world’s largest iPhone factory in Zhengzhou, China ahead of the launch of a new model. The model in question is iPhone 15 which is expected to be launched in September by the United States-based tech giant.&nbsp;

It also indicates Foxconn’s commitment to continue assembling iPhones in the capital of central Henan province amid Apple’s reported efforts to shift the ongoing manufacturing supply chain away from China.&nbsp;

<h2>From a rise in pay to bonuses: What is being offered to employees?</h2>

The Taiwan-based Foxconn said that new workers at the plant in Zhengzhou will receive bonuses of up to $424 (3,000 yuan) if they managed to stay on the job for at least 90 days, with hourly pay of up to 21 yuan ($3), reported South China Morning Post (SCMP). The announcement was made on the messaging app WeChat over the weekend by Foxconn’s integrated Digital Product Business Group, which is responsible for iPhone production.&nbsp;

Meanwhile, existing factory workers can obtain a referral bonus of 500 yuan ($71), provided the person stays at the company for a month, reported BBC. However, this is not Foxconn’s first attempt to retain its workers. 
 
As per the report by SCMP, the company has raised worker benefits twice this month.&nbsp;This includes offering one of the highest loyalty bonuses to new recruits who remain employed for at least three months, which was raised to 2,500 yuan on May 22 from 2,000 yuan on May 3, said the media report.&nbsp;

<h2>About the world’s largest iPhone factory</h2>

Foxconn’s Zhengzhou plant, also known as iPhone City, is the world’s largest iPhone factory.&nbsp;As per reports, it&nbsp;employs more than 200,000 workers and assembles nearly 80 per cent of the global supply of Apple's&nbsp;flagship device.&nbsp;

However, the facility witnessed major disruptions due to China’s strict zero-Covid policy, last year, which has since prompted the company to diversify its production&nbsp;of the US tech giant’s flagship device to India and Vietnam.&nbsp;

Additionally, hundreds of workers protested at the Zhengzhou plant over COVID-19-related restrictions, and reported overdue pay, while workers also complained about the lack of food and medication. The disruptions in November and December also led to the US-based tech giant’s first quarterly decline in revenue since 2019, said Apple chief executive Tim Cook, as per reports.&nbsp;

However, Foxconn’s CEO said that the Taiwan-based company has no plans to leave its second-largest base in China’s Chengdu and its “important” production base there, after the announcement of its significant expansion in India.&nbsp;

Seemingly in a bid to reaffirm its commitment to China Foxconn also opened a new global business base in Zhengzhou, earlier this year, reported SCMP. This comes amid reports of the company opening an iPhone production facility in the Indian city of Chennai. 
 
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Apple supplier Foxconn is ramping up efforts at recruitment and retaining employees at the world’s largest iPhone factory in Zhengzhou, China ahead of the launch of a new model.

Apple supplier Foxconn is ramping up efforts at recruitment and retaining employees at the world’s largest iPhone factory in Zhengzhou, China ahead of the launch of a new model. The model in question is iPhone 15 which is expected to be launched in September by the United States-based tech giant. It also indicates Foxconn’s commitment to continue assembling iPhones in the capital of central Henan province amid Apple’s reported efforts to shift the ongoing manufacturing supply chain away from China. From a rise in pay to bonuses: What is being offered to employees? The Taiwan-based Foxconn said that new workers at the plant in Zhengzhou will receive bonuses of up to $424 (3,000 yuan) if they managed to stay on the job for at least 90 days, with hourly pay of up to 21 yuan ($3), reported South China Morning Post (SCMP). The announcement was made on the messaging app WeChat over the weekend by Foxconn’s integrated Digital Product Business Group, which is responsible for iPhone production. Meanwhile, existing factory workers can obtain a referral bonus of 500 yuan ($71), provided the person stays at the company for a month, reported BBC. However, this is not Foxconn’s first attempt to retain its workers. As per the report by SCMP, the company has raised worker benefits twice this month. This includes offering one of the highest loyalty bonuses to new recruits who remain employed for at least three months, which was raised to 2,500 yuan on May 22 from 2,000 yuan on May 3, said the media report. About the world’s largest iPhone factory Foxconn’s Zhengzhou plant, also known as iPhone City, is the world’s largest iPhone factory. As per reports, it employs more than 200,000 workers and assembles nearly 80 per cent of the global supply of Apple's flagship device. However, the facility witnessed major disruptions due to China’s strict zero-Covid policy, last year, which has since prompted the company to diversify its production of the US tech giant’s flagship device to India and Vietnam. Additionally, hundreds of workers protested at the Zhengzhou plant over COVID-19-related restrictions, and reported overdue pay, while workers also complained about the lack of food and medication. The disruptions in November and December also led to the US-based tech giant’s first quarterly decline in revenue since 2019, said Apple chief executive Tim Cook, as per reports. However, Foxconn’s CEO said that the Taiwan-based company has no plans to leave its second-largest base in China’s Chengdu and its “important” production base there, after the announcement of its significant expansion in India. Seemingly in a bid to reaffirm its commitment to China Foxconn also opened a new global business base in Zhengzhou, earlier this year, reported SCMP. This comes amid reports of the company opening an iPhone production facility in the Indian city of Chennai. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Foxconn hikes pay for workers in world’s largest iPhone factory ahead of new model launch

Taiwanese electronics giant Foxconn has announced plans to invest $820 million over the next three years in new manufacturing facilities in southern Taiwan to support its electric vehicle ambitions, as per the latest media reports.&nbsp;

The company's latest investment in Taiwan signals its commitment to developing its own EV supply chain and reducing reliance on third-party suppliers. The move is also in line with Taiwan's push to become a major player in the EV industry, with the government providing incentives to attract investment and support the development of local talent in the field.&nbsp;

Foxconn's investment is expected to create thousands of new jobs in Kaohsiung, a city in southern Taiwan, and provide a boost to the local economy.&nbsp;

Foxconn is a major supplier to Apple, manufacturing iPhones, and is seeking to diversify its revenue base with a focus on the EV market. The company has already formed several partnerships with global automakers, including a joint venture with Chinese automaker Geely, to provide contract manufacturing services for electric vehicles.

The global EV market is growing rapidly, with demand for electric cars expected to surge in the coming years. Foxconn's investment in new manufacturing facilities and EV-related technologies is aimed at positioning the company as a key player in the market and capturing a share of the growing demand.

Foxconn's move into the EV industry is part of a broader trend of technology companies expanding into the automotive sector. With the rise of electric and autonomous vehicles, the lines between the two industries are blurring, creating opportunities for companies to develop new products and services that cater to the changing needs of consumers.

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Taiwanese electronics giant Foxconn has announced plans to invest $820 million over the next three years in new manufacturing facilities in southern Taiwan to support its electric vehicle ambitions, as per the latest media reports.

Taiwanese electronics giant Foxconn has announced plans to invest $820 million over the next three years in new manufacturing facilities in southern Taiwan to support its electric vehicle ambitions, as per the latest media reports. The company's latest investment in Taiwan signals its commitment to developing its own EV supply chain and reducing reliance on third-party suppliers. The move is also in line with Taiwan's push to become a major player in the EV industry, with the government providing incentives to attract investment and support the development of local talent in the field. Foxconn's investment is expected to create thousands of new jobs in Kaohsiung, a city in southern Taiwan, and provide a boost to the local economy. Foxconn is a major supplier to Apple, manufacturing iPhones, and is seeking to diversify its revenue base with a focus on the EV market. The company has already formed several partnerships with global automakers, including a joint venture with Chinese automaker Geely, to provide contract manufacturing services for electric vehicles. The global EV market is growing rapidly, with demand for electric cars expected to surge in the coming years. Foxconn's investment in new manufacturing facilities and EV-related technologies is aimed at positioning the company as a key player in the market and capturing a share of the growing demand. Foxconn's move into the EV industry is part of a broader trend of technology companies expanding into the automotive sector. With the rise of electric and autonomous vehicles, the lines between the two industries are blurring, creating opportunities for companies to develop new products and services that cater to the changing needs of consumers. WATCH WION LIVE HERE

Foxconn to pump $800 million into Taiwan to expand electric vehicle production

Terry Gou, the founder of Taiwanese multinational electronics manufacturer Foxconn, is attempting to get a presidential nomination for Taiwan's main opposition party, the Kuomintang (KMT) for a second time. Gou made the announcement on Wednesday and targeted the ruling Democratic Progressive Party (DPP) for its stance regarding China.&nbsp;

Speaking to reporters, Gou said the only way to avoid war with China was to get DPP out of the office and reduce Sino-US tensions.&nbsp;

"We must honestly tell young people that it is dangerous to vote for the DPP, which 'exalts Taiwan independence and hates and opposes China'," Gou said. "Peace is not taken for granted, and people need to make the correct choice."

Gou, however, may have a tough road ahead as Hou Yu-ih, mayor of New Taipei City is being considered the favourite to secure the nomination for the elections, slated to take place in January 2024.&nbsp;

<a href="https://www.wionews.com/videos/taiwanese-president-tsai-ing-wens-trip-to-central-america-has-worried-china-576917">WATCH |&nbsp;Taiwanese President Tsai Ing-Wen's trip to Central America has worried China</a>

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Notably, this is not the first time when Gou has attempted to run for the coveted presidential post. After stepping down as the Foxconn chief in 2019, Gou made his first presidential bid but eventually dropped out after failing to receive any favour within the KMT.&nbsp;

KMT as a party traditionally favours close ties with China which is a stark contrast to DPP. Though it denies being pro-Beijing in stance, the party bats for good relations with China.&nbsp;

On the contrary, DPP champions an independent identity of Taiwan, separate from China. DPP leader and Taiwanese President Tsai Ing-wen has been one of the most ferocious voices to have come from the island nation in recent times to take on China rather openly.&nbsp;

<a href="https://www.wionews.com/world/china-deploys-aircraft-carrier-group-off-taiwan-coast-ahead-of-tsais-meeting-with-us-house-speaker-579459">ALSO READ |&nbsp;China deploys aircraft carrier group off Taiwan coast ahead of Tsai's meeting with US House speaker</a>

Gou made the announcement on the same day as when Tsai meets US House Speaker Kevin McCarthy, much to the chagrin of Beijing which has promised to fight back if the supposed meeting goes ahead.&nbsp;

"We firmly oppose this and will definitely take measures to resolutely fight back," said China's Taiwan Affairs Office spokesperson Zhu Fenglian, before adding, “The trip is not so much a ‘transit’, but an attempt to seek breakthroughs and propagate ‘Taiwan independence’." 
&nbsp; 
(With inputs from agencies)

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Terry Gou, the founder of Taiwanese multinational electronics manufacturer Foxconn, is attempting to get a presidential nomination for Taiwan's main opposition party, the Kuomintang (KMT) for a second time.

Terry Gou, the founder of Taiwanese multinational electronics manufacturer Foxconn, is attempting to get a presidential nomination for Taiwan's main opposition party, the Kuomintang (KMT) for a second time. Gou made the announcement on Wednesday and targeted the ruling Democratic Progressive Party (DPP) for its stance regarding China. Speaking to reporters, Gou said the only way to avoid war with China was to get DPP out of the office and reduce Sino-US tensions. "We must honestly tell young people that it is dangerous to vote for the DPP, which 'exalts Taiwan independence and hates and opposes China'," Gou said. "Peace is not taken for granted, and people need to make the correct choice." Gou, however, may have a tough road ahead as Hou Yu-ih, mayor of New Taipei City is being considered the favourite to secure the nomination for the elections, slated to take place in January 2024. WATCH | Taiwanese President Tsai Ing-Wen's trip to Central America has worried China Notably, this is not the first time when Gou has attempted to run for the coveted presidential post. After stepping down as the Foxconn chief in 2019, Gou made his first presidential bid but eventually dropped out after failing to receive any favour within the KMT. KMT as a party traditionally favours close ties with China which is a stark contrast to DPP. Though it denies being pro-Beijing in stance, the party bats for good relations with China. On the contrary, DPP champions an independent identity of Taiwan, separate from China. DPP leader and Taiwanese President Tsai Ing-wen has been one of the most ferocious voices to have come from the island nation in recent times to take on China rather openly. ALSO READ | China deploys aircraft carrier group off Taiwan coast ahead of Tsai's meeting with US House speaker Gou made the announcement on the same day as when Tsai meets US House Speaker Kevin McCarthy, much to the chagrin of Beijing which has promised to fight back if the supposed meeting goes ahead. "We firmly oppose this and will definitely take measures to resolutely fight back," said China's Taiwan Affairs Office spokesperson Zhu Fenglian, before adding, “The trip is not so much a ‘transit’, but an attempt to seek breakthroughs and propagate ‘Taiwan independence’." (With inputs from agencies) WATCH WION LIVE HERE:

Foxconn founder announces Taiwan presidential run, bats for warm relations with China

American technology giant Apple is seeking changes in India's labour laws as part of its efforts to expand local production. According to a report by the news agency Bloomberg on Tuesday (March 21), regional governments are yielding to Apple's request as they are eager to snatch the iPhone assembly from China. Speaking to Bloomberg, sources said that the Southern state of Tamil Nadu, where Apple's top supplier Foxconn Technology Group operates India’s largest iPhone plant, is considering passing new rules that will make factory shifts more flexible.&nbsp;

The sources said that executives from Apple and Indian Cellular and Electronics Association lobby group, which represents the company as well as its suppliers like Foxconn, Pegatron and Wistron, met with Tamil Nadu government officials over six months to push for the reforms. They added that the changes would bring local working hours on par with the iPhone factories in China.&nbsp;

The above moves are part of Apple's effort to shift more production away from China to countries including India. Bloomberg reported that the suggested changes include allowing factories to have two shifts of 12 hours each, instead of the previous three shifts where each shift was for eight hours.&nbsp;

The report said that local officials are keen to attract the business and jobs that Apple represents. It added that the suggested changes could also encourage more women to work in factories.&nbsp;

Labour reforms in India are rare and the country's willingness to accommodate Apple shows how badly it wants to become an electronics manufacturing hub. The sources also told the news agency on Tuesday that Apple and its suppliers are in talks to build large working women’s hostels in and around factory complexes, which would reduce travel time.&nbsp;

The ICEA lobby group said that the above reforms are overdue and at the heart of Make in India's policy objectives. “It helps bring more women with safety and comfort into the work environment like never before,” the ICEA added.&nbsp;

(With inputs from agencies)

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American technology giant Apple is seeking changes in India's labour laws as part of its efforts to expand local production. According to a report by the news agency Bloomberg on Tuesday (March 21), regional governments are yielding to Apple's request as they are eager to snatch the iPhone assembly from China.

American technology giant Apple is seeking changes in India's labour laws as part of its efforts to expand local production. According to a report by the news agency Bloomberg on Tuesday (March 21), regional governments are yielding to Apple's request as they are eager to snatch the iPhone assembly from China. Speaking to Bloomberg, sources said that the Southern state of Tamil Nadu, where Apple's top supplier Foxconn Technology Group operates India’s largest iPhone plant, is considering passing new rules that will make factory shifts more flexible. The sources said that executives from Apple and Indian Cellular and Electronics Association lobby group, which represents the company as well as its suppliers like Foxconn, Pegatron and Wistron, met with Tamil Nadu government officials over six months to push for the reforms. They added that the changes would bring local working hours on par with the iPhone factories in China. The above moves are part of Apple's effort to shift more production away from China to countries including India. Bloomberg reported that the suggested changes include allowing factories to have two shifts of 12 hours each, instead of the previous three shifts where each shift was for eight hours. The report said that local officials are keen to attract the business and jobs that Apple represents. It added that the suggested changes could also encourage more women to work in factories. Labour reforms in India are rare and the country's willingness to accommodate Apple shows how badly it wants to become an electronics manufacturing hub. The sources also told the news agency on Tuesday that Apple and its suppliers are in talks to build large working women’s hostels in and around factory complexes, which would reduce travel time. The ICEA lobby group said that the above reforms are overdue and at the heart of Make in India's policy objectives. “It helps bring more women with safety and comfort into the work environment like never before,” the ICEA added. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Tech giant Apple seeking changes in India's labour laws. Here's why

Apple’s contract manufacturer Foxconn has reportedly won an order to make AirPods in India. The iPhone fame brand may soon have its production in India via Foxconn, the company that is reportedly planning to build a factory in the country to produce these wireless earphones. As per a report, the deal could mean Foxconn becoming an AirPods supplier for the first time. The move that also highlights the key Apple suppliers aim to diversify production away from China.

Apple Supplier Foxconn wins AirPods Order, plans to set up $200 Million-factory in India: Report

On March 3, 300 acres of land were identified for Foxconn's manufacturing facility at the Information Technology Investment Region (ITIR) industrial area, near the Bengaluru International Airport.

Bengaluru's new airport wins over Foxconn

Here we bring you a quick round-up of top headlines - Foxconn is considering a major expansion in India, including possibly assembling millions more iPhones and setting up new production sites as it seeks to further diversify beyond China.

The India Story | Foxconn's plans for India go beyond Apple

Taiwan government would fine Foxconn, the world's largest contract electronics maker, for an unauthorised investment in a Chinese chip maker even after the Taiwanese firm said it would be selling the stake.

Taiwan to fine Foxconn for illegal China investment

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