Preliminary work is underway on Foxconn's manufacturing facility, located on 300 acres of land near Kempegowda International Airport in Bengaluru.
In May 2023, Hon Hai Precision Industry (Foxconn) acquired the land for Rs 300 crore ($37 million).
Also, read: Foxconn purchases 300 acres of land near Bengaluru airport for Rs 300 crore after MoU with Karnataka govt
S Selvakumar, additional chief secretary, Karnataka department of industries and commerce, told Moneycontrol, "We have transferred the required land to Foxconn, and they have initiated preliminary construction work, which is progressing rapidly. While there was no formal groundbreaking ceremony, the company may hold one later. All issues have been resolved, and the project is on schedule."
Officials said the manufacturing facility is being set up within the Information Technology Investment Region (ITIR) industrial area at Doddaballapur in Devanahalli Taluk.
Also, read: Apple's Make in India: Foxconn Industrial Internet eyes Rs 8,800-crore investment in Karnataka
Foxconn is making an investment of Rs 8,500 crore for the manufacturing unit, which is expected to generate over one lakh employment opportunities within the state in the next 10 years.
According to the plan, production at the plant is scheduled to commence by April 2024, with investments spread over three phases. It is expected that Foxconn will invest Rs 3,000 crore in Phase 1 (2023-2024), followed by Rs 4,000 crore in Phase 2 (2025-2026), and Rs 1,000 crore in Phase 3 (2026-2027). The manufacturing targets include one lakh units of iPhones by December 2025, 50 lakh units by December 2026, one crore by December 2027, and two crore by December 2028.
Also, read: Make in India! Foxconn to manufacture 2 crore iPhones a year at its Bengaluru facility
This move by the Taiwanese electronics manufacturer is part of its strategy to diversify production away from China. Foxconn is the primary supplier of Apple iPhone components.
On March 20, the Karnataka government signed a substantial memorandum of understanding (MoU) with Foxconn, wherein the company committed to investing Rs 8,000 crore for a mobile manufacturing unit, which would provide employment opportunities for 50,000 people in the state.
Also read: Foxconn to invest Rs 8,000 crore, create 50,000 employment opportunities: Karnataka govt
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