Tamil Nadu

Foxconn seeks competitive incentive proposal from State govt.

Foxconn, which is interested in EV manufacturing plant set up in India, has sought a competitive incentive proposal from the Tamil Nadu government.

Sources said in a letter addressed to Industries Minister Thangam Thennarasu last month, Young Liu, chairman, Hon Hai Precision Industry Co. Ltd (Foxconn Technology Group), said: “...we understand that Tamil Nadu is a leading state for automotive, we expect a competitive incentive proposal from the Tamil Nadu government and introduce potential BOL partners (Build-Operate-Localize) for localisation.”

The company was “interested to set up a semiconductor fab for 8” (Silicon Carbide) for Electric Vehicle, [which] required Tamil Nadu government’s positive and aggressive feedback with incentive and proposal.”

Mr. Liu said he would like to meet Chief Minister M.K. Stalin. “It wasn’t easy to have a sustain [able] operation from 2006 for Foxconn without Tamil Nadu government. I am planning to visit Tamil Nadu during Q3 of 2022 and would like to meet the Chief Minister.”

In June, during Mr. Liu’s visit to New Delhi, officials from Tamil Nadu Guidance bureau headed by its Managing Director and Chief Executive Officer Pooja Kulkarni, made a detailed presentation to him and offered to help the company in its expansion plans.

When contacted Mr. Thennarasu said the State would extend any kind of support to firms who want to invest and expand their businesses in the State and such partnerships would help the State achieve a GDP of $1 trillion by 2030. He said Foxconn had been instrumental in the State’s growth and had provided employment for thousands of people, especially women.

At present, Foxconn facilities in Tamil Nadu manufacture a range of mobile phones, televisions and electrical components for the world’s leading brands. The company is using advanced manufacturing and Artificial Intelligence-driven technology.

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Printable version | Aug 11, 2022 10:12:35 pm | https://www.thehindu.com/news/national/tamil-nadu/foxconn-seeks-competitive-incentive-proposal-from-state-govt/article65759031.ece