Taiwanese contract maker Foxconn aims to double its workforce and investments in India by next year, the company’s Indian representative V Lee told the LinkedIn Post on Sunday.
Lee wished Prime Minister Narendra Modi on his 73rd birthday and said the company “aimed to double employment, FDI (foreign direct investment) and business size in India by this time next year”.
However, he did not give any details about this. Foxconn, one of the iPhone makers and the world’s largest contract manufacturer, already has a significant presence in Tamil Nadu where its factories employ over 40,000 people.
On September 7, Lee confirmed that the company is evaluating several states, including Tamil Nadu, for its EV ambitions.
“In our last earnings call, Chairman Liu said the company will expand its diversification strategy to include Karnataka and Telangana states in addition to Andhra Pradesh and Tamil Nadu,” Lee informed.
“He said that our core components in India will deal first and foremost with consumer electronics. However, next year, he said India will have EV core components as well.”
