SCMP: Foxconn invests $500M in Apple plant in India
Apple’s Chinese partners will help the company move out of China. This is reported by the South China Morning Post.
Foxconn, Apple’s main partner in China, has invested $500 million to build a plant in India, SCMP has learned. By investing money, the company intends to help Apple move production from China to India and remain a partner in Tim Cook’s firm. Previously, CNBC sources told about the transfer of part of the iPad production to India.
According to the authors, this is due to the attempts of the American corporation to reduce its dependence on the Chinese region. Previously, Apple was hit by COVID restrictions and a workers’ strike at its Zhengzhou iPhone plant, leaving Foxconn with only 20 percent of its production capacity.
In addition to investing in India, Foxconn has also invested $300,000 in its plant in Vietnam to expand production there. According to sources, Apple is mainly looking to move the production of gadgets from China to India and Vietnam.
In early December, Apple announced the use of US-made chips in its gadgets. Semiconductors will be produced at two American TSMC plants, in the construction of which the Taiwanese corporation will invest about $40 billion.
Source: Lenta
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