Foxconn Expands into India's Growing Battery Energy Storage Market

Foxconn, the Taiwanese electronics manufacturer, is planning to establish a battery energy storage system unit in India, Chairman Young Liu announced. The company is focusing on expanding its battery business, specifically for electric vehicles. Foxconn has already set up a unit in Taiwan and is in talks for further expansion in Indonesia and India.

Taiwanese electronics manufacturing giant Foxconn has unveiled plans to establish a battery energy storage system (BESS) unit in India, according to Chairman Young Liu.

Targeting the electric vehicle market, Foxconn has been broadening its battery manufacturing capabilities, with its first plant already operational in Taiwan. Liu disclosed that Foxconn's information and communication technology segment has just commenced in India.

Liu emphasized the company's commitment to its '3+3 strategy,' prioritizing industries like electric vehicles, digital health, and robotics. Currently, Foxconn's battery storage efforts are mainly directed at the electric vehicle sector, and the firm expects significant growth. The BESS unit in India will support Foxconn's EV manufacturing goals in the country.

(With inputs from agencies.)