Foxconn Technology Group is looking at India as its third global base for tapping into the potential electric vehicle (EV) outsourcing market, with plans to capture 5 per cent of the sales worldwide by 2025. The company aims to deliver between 500,000 and 700,000 EVs by that time.
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The Taiwanese company has already acquired a plant in Ohio, US, for $230 million, capable of producing 500,000–600,000 vehicles annually.
First Published: Aug 13 2023 | 11:25 PM IST
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