With an additional investment of US $500 million, it is reported that Foxconn plans to build two new parts plants in India.

Thanks to CTOnews.com netizen OC_Formula for the clue delivery! CTOnews.com, Aug. 2, according to Bloomberg, Foxconn plans to invest an additional $500 million (CTOnews.com Note: currently about 3.59 billion yuan) to build two new parts plants in India. It is reported that Foxconn is lobbying officials in the southern Indian state of Karnataka to adjust and relax labor law restrictions.

It is reported that one of the two new factories will be dedicated to the production of components for Apple's iPhone, and Foxconn is expected to announce location and landing plans in the near future.

Local authorities in Karnataka announced approval for Foxconn to develop a plant in the region and said it expected the plant to create 50,000 jobs. Indian officials and Foxconn did not comment on the expected plans for the two plants.

According to a timetable approved by the Indian government, Foxconn's first new plant in Karnataka will start production in April 2024.