Foxconn to open its first iPhone assembly plant in Bengaluru in April 2024, to make 20 mn units a year

In a significant development, Foxconn, a key Apple supplier, is gearing up to inaugurate its first iPhone assembly plant in Bengaluru in April of the upcoming year. According to a recent report from The Economic Times (ET), the renowned technology manufacturer is diligently working to establish a facility with the capacity to assemble a whopping 20 million smartphones annually. The assembly unit is slated to be situated within a sprawling 300-acre campus at the IT investment region (ITIR) near Bengaluru’s Kempegowda International Airport. As per inside sources, progress on the assembly unit is proceeding smoothly and is adhering to the predetermined schedule. Earlier this year in March, the government granted approval for the Taiwanese technology giant’s proposal to invest $1 billion in setting up the iPhone factory. Subsequently, Foxconn decided to escalate its investment by an additional $1.7 billion. The augmented investment is reported to be allocated towards financing the establishment of assembly facilities and residential accommodations for the workforce, as per the ET report. M B Patil, the Minister of Infrastructure Development of Karnataka, expressed unwavering commitment to ensuring the timely completion of this high-profile project. Patil stated, “I am personally overseeing that there are no obstacles,” emphasizing the state’s dedication to facilitating a smooth investment process. Karnataka Chief Minister Siddaramaiah has reportedly emphasized the need for swift clearances at the highest level to avoid any delays. In a bid to address potential challenges, Patil highlighted that efforts were underway to enhance the ease of doing business in Karnataka for investors. While acknowledging minor land-related issues, he assured that they were being promptly addressed. Patil underscored Foxconn’s determination to accelerate its project, emphasizing the company’s intent to commence manufacturing activities at the earliest. The company, officially known as Hon Hai Precision Industry Co Ltd, plans to construct the plant in three phases and has already disbursed Rs 90 crore, constituting 30% of the land cost, to the Karnataka Industrial Areas Development Board (KIADB). Additionally, Foxconn has submitted a request for a daily water supply of five million liters to support its operations.