Foxconn to establish a BESS facility in India for EV and renewable energy growth

By Staff Report August 20, 2024 7:10 pm IST

Foxconn plans to open a Battery Energy Storage System (BESS) facility in India. Foxconn’s expansion is expected to support the growing electric vehicle market in India.

Foxconn, a Taiwanese electronics manufacturer, is set to open a Battery Energy Storage System (BESS) facility in India, aiming to expand its battery production business, which has already established a plant in Taiwan for electric vehicle production.

Foxconn plans to establish a BESS unit in India to support its upcoming electric vehicle manufacturing operations. BESS technology is crucial for storing energy from renewable sources like solar and wind. Foxconn has already established its first BESS unit in Taiwan, focusing on e-Buses, and is in talks to establish a BESS factory in Indonesia, highlighting its global ambitions in this sector.

Young Liu chairman Foxconn said, “After visiting so many states in India, I felt that India was ascending. Foxconn wants to be a part of it. We will grow together with India’s growth.”

The projected Indian plant is part of Foxconn’s overall investment strategy in the country. To date, the corporation has invested more than $1.4 billion in India, and its revenue has grown to $10 billion. Foxconn presently employs over 48,000 people in India and expects considerable growth in the future.

This initiative demonstrates Foxconn’s dedication to diversifying its portfolio beyond traditional electronics manufacturing. The company’s “3+3 strategy” prioritises electric vehicles, digital health, and robots – businesses with significant development potential and a combined market value of $1.4 trillion.

Foxconn’s expansion in India is bolstering the country’s renewable energy infrastructure and supporting the growing electric vehicle market through the potential BESS unit.