Foxconn, the Taiwanese electronics manufacturing giant, is preparing to establish a Battery Energy Storage System (BESS) unit in India, according to its Chairman Young Liu. As part of its broader strategy to expand in the electric vehicle (EV) sector, Foxconn has already set up its first battery manufacturing plant in Taiwan and is now looking to extend this initiative to India.
During an interaction with PTI, Liu highlighted Foxconn’s ongoing efforts to develop its information and communication technology segment in India. “We are keen on bringing our 3+3 future industry strategy to India. I’ve had discussions with the minister for industries here about potential collaboration on BESS in Tamil Nadu,” Liu stated.
Foxconn’s “3+3 strategy” focuses on three major industries: electric vehicles, digital health, and robotics, each of which has significant growth potential. The battery storage business, particularly geared towards the EV sector, is a key part of this initiative.
Battery Energy Storage Systems (BESS) are critical for storing energy generated from renewable sources like solar and wind. Foxconn’s move to set up a BESS unit in India aligns with its plans to establish an electric vehicle manufacturing facility in the country as well. Liu mentioned that the production of electric vehicles in India is expected to commence “very soon.”
So far, Foxconn has invested $10 billion in India, with plans for further investments in the coming year, according to Liu. He made these remarks during the inauguration of the company’s women-only residential complex near its plant.
