Foxconn Plans Battery Energy Storage Unit in India

Foxconn, the Taiwanese electronics manufacturing giant, is planning to establish a Battery Energy Storage System (BESS) unit in India as part of its expanding footprint in the electric vehicle (EV) sector. Following the success of its first battery manufacturing plant in Taiwan, Foxconn is now eyeing India for its next major BESS project.

The company has recently initiated its information and communication technology segment in India and is actively discussing potential collaborations with the Ministry of Industries to set up the BESS unit in Tamil Nadu. This move aligns with Foxconn's "3+3 strategy," which targets growth in electric vehicles, digital health, and robotics—industries valued at USD 1.4 trillion and growing at over 20% annually.

Foxconn's focus on battery storage is driven by the burgeoning EV market, with plans to also establish an electric vehicle manufacturing unit in India. The company's investments in India have already reached USD 10 billion, with further expansion planned in the coming year.

On August 17, 2024, Tamil Nadu Chief Minister M.K. Stalin, alongside Foxconn Chairman Young Liu, inaugurated the SIPCOT Mega Industrial Housing Facility in Kancheepuram, which will accommodate 18,000 women workers, underscoring Foxconn’s commitment to its Indian operations.

News by Rahul Yelligetti