Indian delegates has been in talks with executives of Taiwanese manufacturer Foxconn to showcase India as an appealing destination for electric vehicle (EV) manufacturing.
The report highlights that Indian officials will also provide updates to Foxconn regarding India’s efforts in exploring and evaluating potential reserves of minerals like lithium, nickel, manganese, and cobalt, which are crucial for EV production.
This development follows recent reports indicating Foxconn’s plans to enter the Indian EV manufacturing market this year, aligning with the government’s push for eco-friendly transportation.
During the visit of top Foxconn executives last year, officials from Maharashtra, Telangana, Tamil Nadu, and Andhra Pradesh held discussions regarding EV manufacturing plans.
Furthermore, the Geological Survey of India revealed in February the discovery of 5.9 million tonnes of lithium resources in the Reasi district in Jammu and Kashmir.
Vedanta and Foxconn announced a joint venture for semiconductor manufacturing in India in February 2022.