Foxconn to make semiconductors with Indian company

Foxconn is to build a factory in India with an Indian company for the manufacture of semiconductors. Until now Foxconn has been mainly known for assembling electronics such as smartphones, but wants to expand its field of activity.

Foxconn and Vedanta are still looking for a place in India to build the factory, the companies report. The factory will be owned by a joint venture of both companies. Vedanta will own 60 percent of the company, while Foxconn will own 40 percent of the joint company. Foxconn is investing nearly $119 million in the joint venture.

The companies point out that building the factory fits well with the Indian government’s Make in India strategy. The government wants as much electronics and components for this as possible to be made in India. The Indian government is willing to pay for it. As a result, several manufacturers came to India in recent years. Apple, among others, has various models of its iPhones produced in the country.

Foxconn started out as a manufacturer for other companies. The company is best known for assembling electronics. In the coming years, it wants to focus on several new branches, including the semiconductor industry and the production of electric cars.