Ongoing Exodus from China
Apple Inc partner Foxconn Technology plans to invest in a new plant in Bangalore as Sino-US tensions grow according to a recent report by Bloomberg.
The investment is one of Foxconn’s biggest single outlays to date in India and underscores how China’s at risk of losing its status as the world’s largest producer of consumer electronics.
The Taiwanese company, also known for its flagship unit Hon Hai Precision Industry, plans to build the plant to make iPhone parts on a 300-acre site close to Bangalore airport, according to informed sources.
The factory may also assemble Apple’s handset and Foxconn may also use the site to produce some parts for its nascent electric vehicle business.
Apple and other US brands are leaning on their Chinese-based suppliers to explore alternative locations such as India and Vietnam, a trend that accelerated in the COVID crisis and the war in Ukraine.
