Foxconn changed its mind and invested 500 million yuan to build a factory in the mainland, is it related to India's fall from grace?
Changed your mind? Foxconn intends to build a factory in India and has decided to invest 500 million yuan in India!
Foxconn is undoubtedly the largest company in the world. It is said that if Foxconn leaves Zhengzhou, China's GDP will be halved, and Foxconn's influence can be imagined.
Obviously a good thing, but Guo Taiming blamed everything on Apple's order, and even declared that it was a charitable act, as soon as this statement came out, the company's reputation plummeted, and some time ago, with Apple's frequent actions to build factories in India, it was even more disappointing.
Apple has been aggressively promoting production in Chinese mainland for the past two years, with India being the biggest beneficiary. Modi and Cook have met several times and expressed a willingness to work together on a deeper level.
Foxconn played again in India"Leader"In an attempt to recreate China's glory, Gou clearly overestimates the Indian market, not to mention cheap labor and less than 50% parts proficiency.
Foxconn has officially announced that it will invest 12 billion yuan in Karnataka, but Gou is not satisfied with producing iPhones, and he plans to build a chip factory in India.
Foxconn and India's Vedanta have partnered to build a tablet factory and granted a patent for STMicroelectronics, but Modi's team did not give the necessary subsidies, but Gou does not think so, and news from India suggests that Foxconn has resubmitted the application.
While Apple didn't make any requests, Foxconn set its sights on India. India's large population and low labor costs make it an ideal place for Foxconn to build a factory, and Foxconn has had to take steps to minimize costs at Apple's repeated requests.
At a time when everyone thought Foxconn had decided to give up, the company built a factory in Henan and received 500 million euros to produce and sell new energy vehicles.
From the perspective of the company's business, it mainly produces auto parts, which means that Foxconn has officially entered the new energy vehicle industry. As for why it wants to build a factory in the Chinese market, I'm afraid it is also out of the consideration of the first chain, think about it from another angle.
Foxconn has just acquired Antai Electric and entered the automotive industry. Since Tesla set up a factory in China, China's new energy vehicles have developed rapidly, the number of new energy vehicles has been increasing, and the market prospect is very broad.