Foxconn is in Discussions With TN to Expand its Battery Manufacturing Business in India

Nitin Konde, Varun Bhardwaj

Nov 27, 2024 — 2 min read

Foxconn Discusses India Expansion for Battery Manufacturing with TN Govt

According to reports, Foxconn, a Taiwanese electronics giant, is in talks with the Tamil Nadu government about growing its battery manufacturing operations in India. The Tennessee government has approached Foxconn, the largest contract manufacturer in the US, about 200 acres of property for the company's proposed battery energy storage system (BESS) unit, according to media reports. Energy from both renewable and nonrenewable sources is typically locked and stored in batteries via a battery energy storage system.

Talks are in Final Stage

According to the reports, Foxconn has not yet made a decision, but the negotiations are nearing a close, and the business is probably going to move on with the project at the designated property in Tamil Nadu, as chairman Young Liu stated during his visit to India. During his August trip to India, Liu allegedly disclosed the Taiwanese electronics manufacturer's intentions to establish a BESS facility there. With the first facility already established in Taiwan, the firm is aiming to increase its market share in the electric vehicle sector.

It is important to remember that the Tennessee unit would be the second BESS unit in the world after the talks and state government clearance. According to the sources, Foxconn has also received an incentive package from the Tamil Nadu government.

Manalur in Tiruvallur District Most Likely to Become Manufacturing Plant's Destination

The state also provided Foxconn property in the Tiruvallur district, close to Manalur. According to sources, the union government was preparing to issue tenders for the establishment of 10 gigawatts (GW) of battery energy storage projects in order to bolster India's standing in the energy storage market. This news comes shortly after that. Foxconn was also thinking about investing about $1 billion (INR 8,354 cr) to establish a smartphone display module assembly plant in TN, which would be the company's first facility of that kind in India.

About Foxconn

The largest electronics firm in the world, Hon Hai Technology Group (Foxconn), was founded in Taiwan in 1974. As the top supplier of technical solutions, Foxconn consistently uses its knowledge of hardware and software to combine cutting-edge technology with its distinctive manufacturing techniques. The Group's long-term growth strategy and its four main product pillars—Smart Consumer Electronics, Cloud and Networking, Computing Products and Components, and Others—are fuelled by the three technologies it has expanded into: artificial intelligence (AI), semiconductors, and new-generation communications technology. It has also expanded its capabilities into the development of electric vehicles, digital health, and robotics.

Hon Hai's yearly income in 2023 was USD 198 billion. The company has set up manufacturing and research and development facilities in a number of international markets, including the United States, China, India, Japan, Vietnam, Malaysia, and the Czech Republic. The corporation has more than 57,729 patents and focuses on research and development.