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HyVision To Build New Plant Near Foxconn Facility In Bengaluru

Inc42 · 1y ago

HyVision To Build New Plant Near Foxconn Facility In Bengaluru

HyVision is set to invest INR 40 crore to establish a camera inspection machine plant near the Foxconn unit in Devanahalli. The Karnataka government has signed a memorandum of understanding (MoU) with HyVision, along with two other South Korean companies, DN Solutions and EMNI, for a combined investment of INR 1,040 crore. Several electronics companies, including Foxconn and Wistron, have been expanding their presence in India, indicating a growing trend in the sector.

Related News

Foxconn chairman Young Liu arrives in Bengaluru, to inspect 300-acre iPhone assembly plant tomorrow

Economic Times

Economic Times · 1y ago

Foxconn chairman Young Liu arrives in Bengaluru, to inspect 300-acre iPhone assembly plant tomorrow

Foxconn Technology Group chairman Young Liu visited Bengaluru to inspect the progress of the iPhone assembly facility being built by the Taiwanese company near the Kempegowda International Airport. The facility, expected to assemble 20 million smartphones annually, will add over 50,000 jobs and require an investment of Rs 22,000 crore. Foxconn is also setting up a manufacturing facility for mechanical components in Bengaluru. The company's investments in the state are anticipated to contribute significantly to Karnataka's growth.

EV maker VinFast to build second production plant in Vietnam

Livemint

Livemint · 8m ago

EV maker VinFast to build second production plant in Vietnam

Vietnamese electric vehicle manufacturer, VinFast, has announced plans to build a second production plant in Ha Tinh province to meet increased demand for its small and mid-sized models. The new facility is projected to have an annual production capacity of 300,000 units, matching that of its existing plant in Haiphong. The company intends to commence operations at the new plant in July 2022. VinFast reported a net loss of $550 million in Q3 2021 but remains confident in reaching its goal of delivering 80,000 cars this year. The new plant will be located near VinFast's battery plant.

New Tata plant starts iPhone production, Foxconn close behind as Apple looks to India, sources say

Economic Times

Economic Times · 4m ago

New Tata plant starts iPhone production, Foxconn close behind as Apple looks to India, sources say

A new Tata Electronics plant in southern India has begun producing older iPhone models, while a Foxconn facility in Bengaluru is set to start operations soon. Apple is shifting production to India amid trade tensions with China. The move aims to diversify manufacturing and counter potential U.S. tariffs. India's iPhone production is projected to increase, with the new plants expected to create significant employment and contribute to Apple's supply chain stability.

AP fire-hit Foxlink back on track with a new Tamil Nadu plant

Economic Times

Economic Times · 1y ago

AP fire-hit Foxlink back on track with a new Tamil Nadu plant

Taiwanese supplier Foxlink, which produces iPhone charging cables for Apple, is building a plant in Oragadam, near Chennai, as part of its expansion plan. This comes after a fire incident at its facility in Tirupati last year. The new plant is expected to begin production soon and the company is considering expanding its product portfolio. Foxlink, an affiliate of Foxconn, also has a presence in Noida. Apple and Foxlink have not responded to queries. The move aligns with Apple's push for diversifying its supply chain from China, with India emerging as a significant manufacturing hub for iPhones.

True north: Foxconn plans first solo UP unit

Economic Times

Economic Times · 4m ago

True north: Foxconn plans first solo UP unit

Foxconn, Apple's largest global vendor, plans to establish a facility in Greater Noida, Uttar Pradesh, on 300 acres along the Yamuna Expressway. This facility could surpass its upcoming Bengaluru plant in size but product specifics are undefined. Foxconn's investment aligns with India's role as an export hub amid global supply chain shifts. The company seeks to capitalize on India's market and diversify product sectors, including ICT, electric vehicles, and digital health.

Apple Vendor Foxlink To Set Up New Unit In Tamil Nadu

Inc42 · 1y ago

Apple Vendor Foxlink To Set Up New Unit In Tamil Nadu

Foxlink, an Apple vendor and Foxconn affiliate, is reportedly building a new manufacturing unit near Chennai in India. The move comes after a fire at Foxlink's Tirupati unit last year, which caused significant damage. The new plant in Oragadam is expected to begin production soon, and Foxlink is looking to expand its product portfolio. This expansion follows difficulties in sustaining operations at the Andhra Pradesh facility. Foxlink manufactures cables, connectors, power management devices, and battery packs for consumer electronics companies, including Apple. Apple itself is increasing its production in India to reduce dependence on China.

Foxconn infuses Rs 1,200 crore in Karnataka unit

Economic Times

Economic Times · 1y ago

Foxconn infuses Rs 1,200 crore in Karnataka unit

Foxconn has invested Rs 1,200 crore (USD 144 million) into its Karnataka-based subsidiary, Foxconn Hon Hai Technology India Mega Development Pvt Ltd. The investment was made through Foxconn's Singapore-based arm, which purchased over 120.35 crore stocks of the Indian subsidiary. Foxconn is also planning to invest Rs 25,000 crore to establish a large manufacturing plant in Karnataka, creating 40,000 jobs. This plant will become the second-largest Foxconn facility after its unit in China. So far, Foxconn Singapore has invested over Rs 13,800 crore in the Karnataka unit.

Toyotetsu to establish ₹450 crore plant in Karnataka’s Bidadi: Report

Livemint

Livemint · 1y ago

Toyotetsu to establish ₹450 crore plant in Karnataka’s Bidadi: Report

Toyotetsu India Auto Parts plans to invest in a new plant in Bidadi, near Bengaluru, marking their fourth plant in the area. The investment was approved by the Karnataka government as part of 20 projects, which are expected to create over 3,400 jobs. The approved projects include investments from Toyotetsu India Auto Parts and ILV South Warehousing Parks Private Limited. Toyotetsu specializes in auto parts and has been operating in Bidadi since 1999. Aoyama Seisakusho Co. is also set to invest in an automotive fasteners production facility.

Apple supplier Rayprus eyeing Bengaluru facility

Economic Times

Economic Times · 1y ago

Apple supplier Rayprus eyeing Bengaluru facility

Rayprus Technologies, a supplier for Apple, is planning to set up a manufacturing facility in India. The Foxconn subsidiary, known for producing precision camera and lens solutions, is in talks with Foxconn to establish the facility within the new Foxconn campus in Bengaluru. This move follows Corning's announcement of setting up a manufacturing unit in Tamil Nadu for gorilla glass production, indicating that more pieces of Apple's India story are falling into place. The addition of leading component players in the Indian supply chain strengthens Apple's diversification strategy.

HCL-Foxconn OSAT JV begins scouting for EPC partners

Economic Times

Economic Times · 5m ago

HCL-Foxconn OSAT JV begins scouting for EPC partners

The HCL-Foxconn joint venture is in talks with Larsen & Toubro and Taiwanese firm CTCI to select an EPC partner for its upcoming OSAT facility. Seeking Cabinet approval by month-end, the JV plans India's first such facility in Uttar Pradesh. Foxconn invests $37.2 million for a 40% equity stake. The facility's location was adjusted to a plot on the main road near Jewar airport, easing accessibility for future operations.

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