ETtechSouth Korea-based HyVision System Inc will invest Rs 40 crore to build a camera inspection machine plant near the Foxconn facility in Devanahalli, Karnataka.
HyVision supplies camera module inspection equipment to Foxconn.
A Karnataka delegation, led by state minister for large and medium industries MB Patil, is visiting South Korea.
"Had a productive meeting with HyVision,” Patil said in a post on microblogging site X on Friday. “They signed an MoU to build a new camera inspection machine plant in India (INR 40 crore investment) near the Foxconn facility. The conversation included plans to initiate manufacturing operations in China and India facilities and the ongoing recruitment of manufacturing personnel for on-site positions.”
In July last year, Foxconn had proposed to set up a Rs 8,800-crore supplementary plant to that of its unit at the Devanahalli Information Technology Investment Region in Karnataka. It has also bought 300 acres in the area.
On March 20 last year, the Karnataka government signed an MoU with Foxconn, wherein the company committed to investing in a mobile manufacturing unit, which would aim to provide employment opportunities for 50,000 people in the first phase and generate 100,000 employment opportunities within the state in the next 10 years.
It is expected that Foxconn will invest Rs 3,000 crore in phase 1 (2023-24), followed by Rs 4,000 crore in phase 2 (2025-26) and Rs 1,000 crore in phase 3 (2026-27). The manufacturing targets include 100,000 units of iPhone by December 2025, 5 million units by December 2026, 10 million by December 2027 and 20 million by December 2028.
This move is part of the company’s 'China plus one' strategy to diversify production away from China. Foxconn is one of the primary suppliers of Apple iPhone components in India apart from Pegatron and Tata Electronics.
HyVision supplies camera module inspection equipment to Foxconn.
The company Friday signed a memorandum of understanding with the Karnataka government for setting up the facility near the Kempegowda International Airport in Devanahalli, which falls in Bengaluru rural district.
A Karnataka delegation, led by state minister for large and medium industries MB Patil, is visiting South Korea.
"Had a productive meeting with HyVision,” Patil said in a post on microblogging site X on Friday. “They signed an MoU to build a new camera inspection machine plant in India (INR 40 crore investment) near the Foxconn facility. The conversation included plans to initiate manufacturing operations in China and India facilities and the ongoing recruitment of manufacturing personnel for on-site positions.”
In July last year, Foxconn had proposed to set up a Rs 8,800-crore supplementary plant to that of its unit at the Devanahalli Information Technology Investment Region in Karnataka. It has also bought 300 acres in the area.
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On March 20 last year, the Karnataka government signed an MoU with Foxconn, wherein the company committed to investing in a mobile manufacturing unit, which would aim to provide employment opportunities for 50,000 people in the first phase and generate 100,000 employment opportunities within the state in the next 10 years.
It is expected that Foxconn will invest Rs 3,000 crore in phase 1 (2023-24), followed by Rs 4,000 crore in phase 2 (2025-26) and Rs 1,000 crore in phase 3 (2026-27). The manufacturing targets include 100,000 units of iPhone by December 2025, 5 million units by December 2026, 10 million by December 2027 and 20 million by December 2028.
This move is part of the company’s 'China plus one' strategy to diversify production away from China. Foxconn is one of the primary suppliers of Apple iPhone components in India apart from Pegatron and Tata Electronics.
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