Team Blitz India
NEW DELHI: Foxconn Technology Group, the world’s largest contract electronics manufacturer, is exploring options to make India its third global hub for electric vehicle (EV) contract production.
The Taiwanese company aims to supply five to seven lakh EVs by 2025, which will account for 5 percent of total electric vehicle sales worldwide, a report has said. The place of the factory has been identified and its opening details will be shared soon, said somebody who is the know of things.
The company has already acquired a manufacturing unit in Ohio, US, for $230 million, which can produce five to six lakh vehicles every year.
The iPhone maker also has a factory in Thailand to make EVs. The plant, built in a joint venture with Thailand’s energy giant PTT, will have an initial production capacity of 50,000 vehicles a year, which can be scaled up to produce 1.5 lakh units, the Business Standard reported on August 14.