Foxconn, a significant Taiwanese electronics manufacturing services company, intends to establish an electric vehicles production facility in India. Young Liu, the chairman of Foxconn, recently met with Akarsh Hebbar, managing director of Vedanta Group, about the proposed electronic chip manufacturing facility’s timeline and location. In order to establish a joint venture firm in India, Vedanta and Foxconn had inked a memorandum of understanding in February 2022. Foxconn will own 40% of the JV’s stock while Vedanta would own 60% of it.
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Note: The above-mentioned news was first published by us in our ProjectX India | 1st July 2022 edition. Click here to buy this issue. Access Electricals/Electronics news, projects, tenders, and contract award information in each fortnightly issue of ProjectX India PDF version. Go for an annual subscription and get access to 24 issues in a year.