On September 10, according to Bloomberg, after canceling the joint venture with Vedanta, Foxconn Technology Group is negotiating with STMicroelectronics to submit a joint application to build a 40-nanometer semiconductor factory in India.
Foxconn, primarily known for providing assembly services for Apple products, already has a sizable presence in India, with factories in Karnataka and Tamil Nadu that make iPhones and other Apple accessories.
Although Foxconn has never built a semiconductor manufacturing plant, it has shown strong interest in setting up a semiconductor factory in India. Last year, the company signed a chip facility cooperation agreement with Indian mining giant Vedanta worth US$19.5 billion. But Foxconn withdrew from the joint venture in July this year, saying it would build its own chip factory in India.
Foxconn Chairman and CEO Liu Yangwei said on Wednesday that India is expected to become the world's new manufacturing hub and that the supplier ecosystem may develop faster than China.
India is trying to boost the country's chip production to reduce reliance on expensive imports and reliance on China. Indian Prime Minister Narendra Modi pledged to allocate US$10 billion to attract chip manufacturers and promised that the government would bear half of the cost of setting up semiconductor factories, prompting US memory chip company Micron Technology to announce the establishment of a US$2.75 billion assembly and manufacturing facility in Modi's home state of Gujarat. Test factory.
