Over the past week, a series of developments and rumors regarding Foxconn's investments in India have occurred. Global PC and notebook manufacturers are closely watching if India will recosider implementing its import restrictions on computers.
Foxconn ready to expand Apple products manufacturing and other investments in India
After Foxconn Group subsidiary Foxconn Interconnect Technology (FIT) announced a capital injection of US$400 million to its Indian subsidiary, Young Liu, the group's chairman, said the company plans to set up key consumer electronics component assembly and EV components lines in India. Meanwhile, Foxconn reportedly begins making iPhone 15 in India, and FIT may produce AirPods for Apple in its Telangana facility.
India produced 2 billion handsets in 8 years
Counterpoint's data shows that mobile phones made in India grew at a CAGR of 23% between 2014 and 2022, with cumulative production reaching 2 billion units for the period.
Import restrictions expected to reverse falling shipments in India's PC market
According to IDC's market tracker, 3.2 million PCs, including desktops, notebooks, and workstations, shipped in India in the second quarter of 2023, down 5.9% quarter-on-quarter and 15.3% year-on-year, the fourth consecutive fall in the Indian PC market.
Tata cements its dominance in India's EV market
According to Canalys, 2 million light vehicles were sold in India in the first half of 2023, among which 48,000 were EVs, with Tata Motors accounting for 72% of India's EV market.
Hyundai signed agreement to acquire GM's facility in India
Hyundai and General Motors signed an asset purchase agreement to acquire the latter's facility in Talegaon, Maharashtra. The plant has an annual production capacity of 130,000 units. Combined with Hyundai's other India-based facilities in Sriperumbudur, Tamil Nadu, Hyundai is expected to expand its Indian production capacity to one million a year.
Ola Electric unveils affordable E2Ws to solidify market share
Ola Electric, India's largest electric two-wheeler (E2W) brand by sales, unveiled three S1X models, which are priced in the range of INR89,999 and 109,999, aiming to attract more ICE scooter owners to switch to electric models with competitive price tags.
