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Foxconn plans Battery Energy Storage System unit in India, eyes expansion in EV segment

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Taiwanese electronics giant Foxconn is planning to establish a Battery Energy Storage System (BESS) unit in India, according to Chairman Young Liu. With a focus on the electric vehicle (EV) sector, Foxconn is expanding its battery manufacturing business, having already set up its first plant in Taiwan.

Liu mentioned that Foxconn’s information and communication technology segment has recently started operations in India. He also revealed discussions with Tamil Nadu’s industry minister regarding collaboration on BESS projects in the state.

As part of its “3+3 strategy,” Foxconn is prioritizing three key industries with significant growth potential: electric vehicles, digital health, and robotics. The company is also proposing to set up an electric vehicle unit in India, with production expected to begin “very soon,” according to Liu.

Foxconn’s business in India has grown to over USD 10 billion by 2024, and Liu anticipates even greater growth in the coming year. Liu spoke on the sidelines of the inauguration of Foxconn’s women-only residential complex near its plant in Tamil Nadu, highlighting the company’s commitment to expanding its presence in India.

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