According to Taiwanese media “Economic Daily”, it is reported that Hon Hai is considering producing electric vehicles in India. This is not only a part of the decentralized global layout, extending its Asian manufacturing supply chain beyond mainland China, but also the further expansion of Hon Hai’s electric vehicle layout in India after Gogoro, which assisted the alliance last year, established a production line in India.
According to reports, Hon Hai’s Foxconn iDPBG Zhengzhou plant sent more than 20 cadres to Hon Hai’s India plant around the Dragon Boat Festival to impart experience and strengthen the layout of the Indian supply chain. Since the Zhengzhou plant is the largest production base for iPhones, it is expected that Hon Hai is strengthening its mass production capacity for iPhones made in India. At present, it seems that Hon Hai is not only interested in manufacturing iPhones in India, but also has a high interest in manufacturing electric vehicles.
According to the “India Economic Times” report, sources said that in addition to Vietnam, Indonesia and other Southeast Asian countries, Hon Hai’s electric vehicle company Honghua Advanced is considering producing electric vehicles in India. At present, Hon Hai has a wholly-owned factory near Chennai, India, producing iPhones, and a subsidiary, Bharat FIH, which mainly produces mobile phones for Chinese brands such as Xiaomi. Hon Hai is also interested in products other than mobile phones, the people added.
The “India Economic Times” quoted sources as saying that the Tamil Nadu government hopes that Hon Hai can expand investment. “They have expressed interest in electric vehicle manufacturing, so we told them that Tamil Nadu is a good place to go.” Another government official with knowledge of the matter said that Hon Hai is also concerned about the potential demand for electric vehicles in the Indian market; “Hon Hai did not plan to manufacture in India at first, but recently Hon Hai has been studying the Indian auto market, and is considering entering India, Vietnam and Indonesia to serve other The market expands the manufacturing base.”
Sales of electric passenger cars in India jumped 1.5-fold to 17,800 in 2022, data from the Federation of Automobile Dealers Associations of India (FADA) showed, underscoring the country’s strong demand for electric vehicles. It is worth mentioning that the Investment Promotion Council of Thailand announced this month that it has approved the establishment of a joint venture between Hon Hai and the National Petroleum Corporation of Thailand (PTT) to establish an electric vehicle company, which is worth 36.1 billion baht (about 1.04 billion US dollars).