{"id":3051,"date":"2024-11-27T16:26:15","date_gmt":"2024-11-27T10:56:15","guid":{"rendered":"https:\/\/www.eqwires.com\/tutorials\/?p=3051"},"modified":"2024-11-27T16:26:18","modified_gmt":"2024-11-27T10:56:18","slug":"foxconn-is-likely-to-open-its-second-largest-battery-plant-in-tamil-nadu","status":"publish","type":"post","link":"https:\/\/www.eqwires.com\/tutorials\/foxconn-is-likely-to-open-its-second-largest-battery-plant-in-tamil-nadu\/","title":{"rendered":"Foxconn is likely to open its second-largest battery plant in Tamil Nadu"},"content":{"rendered":"\n

Foxconn, India\u2019s largest contract manufacturer, is expected to establish the world\u2019s second-largest Battery Energy Storage System (BESS) in Tamil Nadu. According to The Economic Times, the Tamil Nadu government has proposed offering 200 acres of land for the project as part of its engagement with the company. <\/small><\/p>\n\n\n\n

\u201cThe Tamil Nadu government has also given Foxconn an incentive package,\u201d an official told The Economic Times. \u201cFoxconn is yet to finalise but the talks are in the final stages and Foxconn is likely to go ahead with the project at the identified land in Tamil Nadu, in line with what was mentioned by Chairman Young Liu on his India visit,\u201d the official said. <\/small><\/p>\n\n\n\n

Foxconn eyes Tamil Nadu expansion<\/strong> <\/small><\/p>\n\n\n\n

The Tamil Nadu government has proposed land to the Foxconn near Manalur in Tiruvallur district, about 50 km north Chennai.  <\/small><\/p>\n\n\n\n

According to the news report, Young Liu visited India in August 2024 and discussed Foxconn\u2019s plans to expand its operations in the country beyond smartphones. He turned the company\u2019s focus on sectors such as electric vehicles (EVs), energy, and digital health. Regarding energy, Liu emphasised Foxconn\u2019s interest in batteries as part of its broader EV strategy. \u201cWe are eager to bring our 3+3 future industry initiative to India,\u201d he said during his last visit to India, adding that he had been in talks with the Minister for Industries in Tamil Nadu about potential collaboration on Battery Energy Storage Systems (BESS). <\/small><\/p>\n\n\n\n

Foxconn targets EV battery boom<\/strong><\/p>\n\n\n\n

As part of its \u20183+3 strategy\u2019, Foxconn has identified three key industries \u2014 electric vehicles, digital health, and robotics \u2014 each offering substantial growth potential. These sectors currently represent a market valued at $1.4 trillion, with a projected compound annual growth rate exceeding 20 per cent. <\/small><\/p>\n\n\n\n

Foxconn\u2019s battery storage efforts are primarily geared toward the electric vehicle market. On November 14, Chairman Young Liu provided an update on the first battery energy storage system (BESS) unit in Taiwan. \u201cWe are nearing the completion of our manufacturing plant for battery and energy storage,\u201d Liu stated during the investor conference call for the company\u2019s third-quarter results. \u201cHowever, due to the impact of several typhoons this year, we expect that official mass production will be delayed until the first quarter of next year.\u201d<\/a><\/p>\n\n\n\n

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www.eqwires.com<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Foxconn, India\u2019s largest contract manufacturer, is expected to establish the world\u2019s second-largest Battery Energy Storage System (BESS) in Tamil Nadu. According to The Economic Times, the Tamil Nadu government has proposed offering 200 acres of land for the project as part of its engagement with the company.  \u201cThe Tamil Nadu government has also given Foxconn an incentive package,\u201d an official told The Economic Times. \u201cFoxconn is yet to finalise but the talks are in the … Continue reading “Foxconn is likely to open its second-largest battery plant in Tamil Nadu”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":3052,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[201,172,136,138,134,164,217,368,139,140,324,106,272,266,98,72,97,184,73,268,135,137,133,330,104,141,299,161,160,159,74,210,75,158,166,311,228,227,103,254,102,224,257,298,300,101,105,301,165,327,329,76,77,78,79,247,365,308,361,363,215,216,174,80,81,99,218,82,340,339,320,183,168,167,170,251,83,84,85,86,87,108,88,202,155,154,273,89,100,90,91,92,93,94,95,236,255,385,232,231,250,96,3,260,252,248,249,322,107,192,220,360,275,223,156,157,341,246,238,207,177,176,175],"tags":[4,5,267,6,200,7,12,116,19,149,147,173,145,14,118,11,150,153,265,120,9,271,190,191,13,188,18,318,8,185,316,10,17,269,148,151,146,15,331,319,16,122,144,162,23,41,25,24,27,21,194,50,312,229,226,124,33,253,126,225,119,20,258,28,297,49,127,315,121,230,295,125,115,22,113,29,328,333,317,332,334,314,52,123,131,348,366,357,309,310,359,362,354,349,351,364,213,26,182,111,130,31,62,34,30,42,219,57,112,186,169,56,171,64,132,206,59,53,264,128,43,336,242,237,51,110,32,187,35,55,44,270,288,196,47,37,195,45,39,36,40,203,38,143,152,129,142,46,48,63,67,60,61,65,234,71,235,54,256,117,386,233,68,193,241,335,205,261,263,209,262,337,244,66,204,70,109,259,221,291,274,222,163,69,58,342,239,208,114,178,181,179,180,290],"class_list":["post-3051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accurate-stock-tips-provider-in-india","category-best-advisory-service-provider-for-beginners","category-best-bank-nifty-future-calls","category-best-bank-nifty-options-tips-provider","category-best-bank-nifty-trading-tips-provider","category-best-equity-advisory-services-in-india","category-best-ethical-investment-advisor-in-india","category-best-financial-advisor-websites-in-india","category-best-index-future-services","category-best-index-options-services","category-best-intraday-advisor-in-india","category-best-intraday-call-provider","category-best-intraday-jackpot-calls","category-best-intraday-research-company","category-best-intraday-tips-for-tomorrow","category-best-intraday-tips-provider-in-india","category-best-intraday-tips-site","category-best-intraday-tips-website-in-india","category-best-investment-advisor-in-india","category-best-jackpot-tips-provider","category-best-nifty-future-calls","category-best-nifty-options-tips-provider","category-best-nifty-trading-tips-provider","category-best-option-trading-telegram-channel","category-best-options-tips-provider-in-india","category-best-options-trading-tips-provider-in-india","category-best-paid-stock-recommendation-sites-india","category-best-performing-pms-in-india","category-best-pms-in-india","category-best-portfolio-management-services-in-india","category-best-sebi-registered-advisory-company","category-best-sebi-registered-investment-advisor","category-best-sebi-registered-investment","category-best-sebi-registered-research-analyst","category-best-sebi-registered-stock-tips-provider","category-best-sebi-registered-telegram-channel","category-best-share-market-advisor-in-india","category-best-share-market-advisory-company-in-india","category-best-share-market-consultants-in-india","category-best-share-market-tips","category-best-share-market-tips-provider-in-india","category-best-share-tips-provider-in-india","category-best-stock-advisor","category-best-stock-advisor-websites-in-india","category-best-stock-advisory-service-in-india","category-best-stock-market-advisory-services-in-india","category-best-stock-market-tips-provider-service","category-best-stock-recommendation-service-in-india","category-best-stock-tips-provider-in-india","category-best-stock-tips-provider-in-telegram","category-best-telegram-channel-for-stock-market-tips-in-india","category-business","category-commodity-market","category-currency","category-equity-market","category-equity-research-analyst","category-eqwires-best-investment-advisor-in-india","category-eqwires-best-sebi-registered-investment-advisor-in-india","category-eqwires-best-stock-advisor-websites-in-india","category-eqwires-most-successful-stock-advisors-in-india","category-ethical-sebi-registered-investment-advisor","category-ethical-sebi-registered-research-analyst","category-fact-about-operator-based-calls","category-fii-based-calls","category-foreign-markets","category-free-intraday-stock-tips-for-tomorrow","category-genuine-intraday-tips-provider","category-genuine-stocks-tips-provider","category-googles-highest-ranking-sebi-registered-research-analyst","category-googles-highest-ranking-sebi-registered-stock-advisory-company","category-high-accuracy-intraday-tips","category-how-can-i-make-profit-in-intraday-trading","category-how-to-earn-profit-from-intraday-trading","category-how-to-invest-in-stock-market","category-how-to-make-profit-in-intraday-trading-in-share-market","category-intraday-tips","category-intraday-trading-ti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