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Electronics giant Foxconn eyes on Indian EV market

Taiwan-based electronics contract manufacturer, Foxconn intends to manufacture electric vehicles (EVs) in India. The electronics behemoth will be able to expand its Asian manufacturing supply chain as a result of this.

According to the ET report, Foxconn's EV arm, Foxtron, is considering manufacturing EVs in India and other Southeast Asian countries such as Vietnam and Indonesia. After learning of this, the Tamil Nadu government is pursuing Foxconn to establish an EV manufacturing plant in the state. According to a FADA report, 17,804 commercial EV units were sold in India in FY22, a 2.5x increase over FY21 sales figures.

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