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☆ iPhone maker Foxconn to invest $600 million into phone and chip project in India
▼ + stars: | 2023-08-02 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Foxconn will invest more than $600 million in India as part of a phone manufacturing project and separately a semiconductor equipment facility, according to the government of the state of Karnataka. The phone project will create employment opportunities for 12,000 people, Patil said, while the semiconductor facility will generate employment for 1,000 people. Foxconn has also, with little success so far, tried to enter the semiconductor manufacturing area. Applied Materials was not immediately available for comment. Modi attended a semiconductor event in India last week, at which senior executives from big U.S. chip firms including Applied Materials and AMD were present.

Persons: Foxconn, B Patil, Patil, Narendra Modi, Modi, Young Liu Organizations: Materials, Vedanta, CNBC, Applied Materials, AMD Locations: Krakow, Poland, India, Karnataka, U.S, China

☆ Foxconn to invest $600 million in India's Karnataka to make iPhone components, chip equipment
▼ + stars: | 2023-08-02 | by ( Munsif Vengattil | Thomson Reuters | Munsif Vengattil Is A Reuters' India Technology Correspondent | ) www.reuters.com time to read: +2 min

Reuters was first to report the investment plans on Wednesday. The investment decisions follow a meeting between Foxconn Chairman Young Liu, Karnataka's IT minister Priyank Kharge, and Industries Minister MB Patil. Prime Minister Narendra Modi is also attracting investors for semiconductor manufacturing, which is his key business agenda currently. In Karnataka, Foxconn will collaborate with Applied Materials on a project for making semiconductor manufacturing equipment, and create jobs for around 1,000 people. India's Tamil Nadu state has also announced that Foxconn will invest $194 million in a new electronic components manufacturing facility that will create 6,000 jobs.

Persons: Ann Wang, Foxconn, Young Liu, Priyank Kharge, Liu, Narendra Modi, Munsif, Aditya Kalra, Himani Sarkar, Jane Merriman, Mark Potter Organizations: REUTERS, Applied Materials, Reuters, Industries, Patil, Micron, Materials, Thomson Locations: Taipei, Taiwan, BENGALURU, India's Karnataka, China, Karnataka, India, Gujarat, Tamil Nadu, Bengaluru

☆ Battery maker IBC to set up plant in India's Karnataka for nearly $1 bln
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

Aug 1 (Reuters) - International Battery Company (IBC) has signed an investment pact worth 80 billion rupees ($971.89 million) with India's southern state of Karnataka to build a battery manufacturing facility, the state's minister said on Tuesday. The manufacturing facility will be spread across 100 acres in the state, Minister for Commerce & Industries, Infrastructure MB Patil said in a post on messaging platform X.Bloomberg News reported on Tuesday that the company would manufacture lithium-ion cells at the facility. IBC plans to begin production by 2025, Bloomberg News reported, citing Gunjan Krishna, commissioner at Karnataka's Industries and Commerce Department, adding that the private company is aiming to ramp up capacity to 10 gigawatt by 2028. The company, which met state government officials in June, had then expressed an interest in investing on battery production in Karnataka, Patil had said in a post in June. ($1 = 82.3140 Indian rupees)Reporting by Anirudh Saligrama in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Gunjan Krishna, Patil, Anirudh, Shailesh Organizations: International Battery Company, Commerce & Industries, Patil, Bloomberg, IBC, Bloomberg News, Karnataka's Industries, Commerce Department, Thomson Locations: Karnataka, Bengaluru

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