Foxconn, an Apple supplier, is building sizable hostel complexes close to its production base near Chennai to house up to 60,000 workers. The news comes amid rumors that the Taiwanese electronics company is increasing its ability to create Apple products made in India, according to the newspaper.
A detail on Foxconn India is constructing a Chinese-style hostel complex to house 60000 workers near Chennai facility
Within the next two years, the corporation plans to triple its Indian staff. The largest iPhone production facility in the world, the Zhengzhou plant, recently experienced significant interruptions.
The building of the hostel’s facilities is progressing quickly. The change comes after India saw a significant increase in Apple’s domestic sales and a jump in the export of gadgets made there. The corporation has such facilities in China, which is presently the country where the majority of iPhones are made in the world.
The Foxconn Hon Hai facilities in Sriperumbudur, the Indian division of the Taiwanese firm, create Apple phones like the iPhone 14. Nearly 15,000 people work for the units, and the majority of them are workers. Over the following 18 months, the corporation hopes to raise this total to 70,000, according to the report.
The business, also known as Hon Hai Precision Industries, needs places to house the new hires. In the next 10 months, a dormitory with 20,000 beds will be completed.
The two hostels that are now under construction will provide room for 60,000 workers. Additionally, the business consented to occupy at least 75% of the 20,000-bed dormitories that Tamil Nadu State Industries Promotion Corp is building in the same neighborhood.
The majority of iPhones sold worldwide are presently made in China, but researchers predict that by 2025, India will have surpassed China as the industry’s top producer. In an effort to diversify supply chains, Apple plans to manufacture 25% of all iPhones in India by 2025, up from the current 5%, according to a JP Morgan study.
The corporation is constructing two new manufacturing facilities on its campus, according to the article.
Along with Vedanta, Foxconn also intends to invest up to $500 million in India to produce semiconductors. Recently, the business announced in a Taiwanese stock exchange filing that its Singaporean affiliate would invest in Hon Hai Technology India Mega Development Private Limited.
Gujarat and Foxconn recently agreed to the development of a $20 billion semiconductor and display fab facility. According to top authorities, Vedanta, a well-known mining company, has offered to finance the project while Foxconn has committed its technological expertise to the operation. The state of Gujarat will provide financial assistance with both capital expenses and power prices.