Karnataka CM: Foxconn to set up EV production unit in Bengaluru under Project Cheetah

Foxconn is establishing a production and assembly plant for mechanical components of electric vehicles EV in Bengaluru as part of Project Cheetah, Karnataka Chief Minister Siddaramaiah announced on Aug 16.

He stated, "For this project, the company has leased private land in Bengaluru Rural district."

Foxconn, a significant supplier to Apple and a leader in Taiwanese electronics, has been increasing its footprint in India as tech firms look to diversify their operations outside of China. Foxconn intends to deliver 5-7 lakh electric vehicles by 2025, and it is thinking of making India its third worldwide base for EV contract manufacture.

Foxconn has previously established an iPhone assembly factory in Karnataka as part of Project Elephant. "The firm has purchased 300 acres of property in the Bengaluru Rural District's Doddaballapur and Devanahalli Taluk, which is part of the ITIR Industrial Area. With a Rs 22,000 crore investment, the project is anticipated to provide jobs for around 50,000 people,” according to Siddaramaiah.

Karnataka Chief Minister Siddaramaiah and Deputy Chief Minister DK Shivakumar met Young Liu, Chairman of the Taiwan-headquartered Hon Hai Technology Group (Foxconn) on Aug 16th. Over dinner, Siddaramaiah gave Liu and other senior officials of the company assurances that Foxconn would have all the support and cooperation it needed to operate in the state. Meanwhile, on the next day, Liu is expected to pay a visit to the Doddaballapur production plant.

"All necessary infrastructure and support will be provided to Taiwan-based Foxconn, which is investing Rs 25,000 crore to establish a massive manufacturing plant near Doddaballapur. Foxconn will receive full backing from the state government. Everything from roads, water, and power to legal support will be provided," the CM declared.

In response, Young Liu stated, "The unit in Karnataka will soon become the second-largest Foxconn plant after China's unit". Particularly for those with a middle-level education, it will directly generate 40,000 employment, and our investment won't end here. We intend to investigate more industries in the future. Everything is possible if both parties have mutual trust."