MUMBAI: Apple Inc. partner Foxconn Technology Group plans to invest about $700 million on a new plant in India to ramp up local production, people familiar with the matter said, underscoring an accelerating shift of manufacturing away from China as Washington-Beijing tensions grow, Bloomberg reported.
The Taiwanese company, also known for its flagship unit Hon Hai Precision Industry Co. plans to build the plant to make iPhone parts on a 300acre site close to the airport in
Bengaluru, the capital of the southern Indian state of Karnataka, according to the people, who asked not to be named as the information is not public.
The factory may also assemble Apple's handsets, some of the people said, and Foxconn may also use the site to produce some parts for its nascent electric vehicle business.
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