Foxconn Eyes Expansion in India's EV Battery Storage Market

Foxconn, the Taiwanese electronics manufacturer, plans to establish a Battery Energy Storage System (BESS) unit in India. With a focus on the electric vehicle segment, Foxconn has already set up its first battery plant in Taiwan and aims to expand its operations in India by leveraging its 3+3 strategy.

Taiwanese electronics manufacturing giant Foxconn is gearing up to establish a Battery Energy Storage System (BESS) unit in India, according to chairman Young Liu.

Focusing on the electric vehicle segment, Foxconn has been expanding its battery manufacturing, with its first plant operational in Taiwan. Liu disclosed that Foxconn's information and communication technology initiatives have just started in India.

Foxconn's 3+3 strategy prioritizes electric vehicles, digital health, and robotics, aiming for significant growth. The company also plans an electric vehicle unit in India, with production starting 'very soon'.

Having invested USD 10 billion in India already, Foxconn plans further investments. Liu, a Padma Bhushan awardee, noted that India is on the rise and expressed intent to grow with the country's progress.