Foxconn pulls from US$19.4 billion deal in India to make semiconductors
Foxconn’s plan to set up a factory to make semiconductors in India would have seen Vedanta – one of India’s biggest mining companies – take a 60% share in the joint venture, while the Taiwanese electronics firm would have the minority stake. – EPA pic, July 11, 2023.
TAIWANESE electronics giant Foxconn withdrew from a US$19.4 billion deal with India’s Vedanta to make semiconductors in the South Asian nation owing to “challenging gaps”, it announced today. The world’s top iPhone assembler signed an agreement in September with Vedanta to set up a chip factory – which would also produce display screens for phones and tablets – in India’s Gujarat state.
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