iPhone maker Foxconn and HCL factory to be built near Jewar airport

In a significant development, a joint venture (JV) between Taiwan’s Foxconn and India’s HCL Group has acquired around 30 acres of land near the upcoming Jewar airport in Noida, Uttar Pradesh, media reports say. The land, allotted by the Yamuna Expressway Industrial Development Authority (YEIDA), is earmarked for setting up an outsourced semiconductor assembly and testing (OSAT) unit, according to sources familiar with the matter, as reported by The Economic Times (ET).

The proposed project is set to be a milestone for Uttar Pradesh, marking the first OSAT unit in the state, though it is still awaiting approval from the central government. Apple iPhone maker Foxconn is set to invest around $37.2 million in the venture, in which it has a 40 per cent equity stake, while lead partner HCL Group will take key decisions on the location. HCL Group has chosen Uttar Pradesh as the location for the unit, citing the strategic advantage of being close to its headquarters in Noida.

According to a source quoted by ET, HCL’s familiarity with the region is expected to help in smoother operations. “HCL has highlighted its deep ties with the state and how this can benefit the venture,” the source noted.

Foxconn’s Expanding Presence in India

Foxconn’s presence in India continues to grow significantly, with the company’s operations set to cross $10 billion by 2024. The Taiwanese electronics giant has already invested $1.4 billion across the country and currently employs around 48,000 people in India. The company has also placed a strong emphasis on promoting gender diversity in its workforce, particularly through its facility in the southern Indian state of Tamil Nadu. Built under the acronym State Industries Promotion Corporation of Tamil Nadu (SIPCOT), the 20-acre facility employs over 18,000 women and cost around Rs 706 crore to build. Notably, the workforce at the site is 70 percent women, making it one of the largest employers of women in India.

Focus on electric vehicles, battery energy storage systems

In addition to its semiconductor and electronics ventures, Foxconn is accelerating its push into the electric vehicle (EV) market, particularly through its Battery Energy Storage System (BESS) business. Foxconn Chairman Young Liu recently confirmed that the company plans to establish a BESS unit in India, building on the success of its first plant in Taiwan. The company’s “3+3” strategy is central to its growth plan, with a focus on three key sectors: electric vehicles, digital health and robotics. The EV segment in particular is of great importance as Foxconn continues to expand battery production to support this growing market.

Liu suggested that EV production in India could begin “very soon,” signaling another potential boost for the country’s burgeoning EV ecosystem. This expansion into new sectors and regions underscores Foxconn’s commitment to diversifying its operations in India, aligning with broader trends in the global technology and manufacturing industries.