{"id":1287941,"date":"2024-11-30T11:29:32","date_gmt":"2024-11-30T05:59:32","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1287941"},"modified":"2024-11-30T11:30:14","modified_gmt":"2024-11-30T06:00:14","slug":"tamil-nadu-allocates-200-acres-to-foxconn-for-launching-their-2nd-biggest-battery-plant","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/tamil-nadu-allocates-200-acres-to-foxconn-for-launching-their-2nd-biggest-battery-plant\/","title":{"rendered":"Tamil Nadu Allocates 200 Acres To Foxconn For Launching Their 2nd Biggest Battery Plant"},"content":{"rendered":"\n

In a latest development, Foxconn, India\u2019s largest contract manufacturer is planning to establish the world\u2019s second-largest Battery Energy Storage System (BESS) in Tamil Nadu.\u00a0<\/p>\n\n\n\n

\"Tamil<\/figure>\n\n\n\n

Foxconn Likely to Open Second-largest Battery Plant in Tamil Nadu<\/strong><\/p>\n\n\n\n

It appears that the Tamil Nadu government has proposed offering 200 acres of land for the project as part of its engagement with the company, as per the media report<\/a>.<\/p>\n\n\n\n

\u201cThe Tamil Nadu government has also given Foxconn an incentive package,\u201d said the officials known to the development. <\/p>\n\n\n\n

Further adding, \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<\/p>\n\n\n\n

In this regard, the Tamil Nadu government has approached the company with a proposal to offer 200 acres of land for the plant and incentives as talks reach final stages.<\/p>\n\n\n\n

They have proposed land to the Foxconn near Manalur in Tiruvallur district, about 50 km north Chennai. <\/p>\n\n\n\n

Focusing On Electric Vehicles (EVs), Energy and Digital Health<\/strong><\/p>\n\n\n\n

Young Liu earlier visited India during August 2024 and discussed Foxconn\u2019s plans to expand its operations in the country beyond smartphones. <\/p>\n\n\n\n

He has directed the company\u2019s focus on sectors such as electric vehicles (EVs), energy, and digital health. <\/p>\n\n\n\n

Moving ahead, Liu emphasised Foxconn\u2019s interest in batteries as part of its broader EV strategy. <\/p>\n\n\n\n

He noted, \u201cWe are eager to bring our 3+3 future industry initiative to India,\u201d during his last visit to India.<\/p>\n\n\n\n

Further adding that he had been in talks with the Minister for Industries in Tamil Nadu about potential collaboration on Battery Energy Storage Systems (BESS).<\/p>\n\n\n\n

Foxconn has identified three key industries including electric vehicles, digital health, and robotics \u2014 each offering substantial growth potential under its \u20183+3 strategy.<\/p>\n\n\n\n

Presently, these sectors represent a market valued at $1.4 trillion, with a projected compound annual growth rate exceeding 20 percent.<\/p>\n\n\n\n

Primarily, Foxconn\u2019s battery storage efforts are geared toward the electric vehicle market. <\/p>\n\n\n\n

In this regard, Chairman Young Liu provided an update on the first battery energy storage system (BESS) unit in Taiwan, on November 14.<\/p>\n\n\n\n

Liu said, \u201cWe are nearing the completion of our manufacturing plant for battery and energy storage,\u201d during the investor conference call for the company\u2019s third-quarter results. <\/p>\n\n\n\n

Adding, \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<\/p>\n\n\n\n

Image Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In a latest development, Foxconn, India\u2019s largest contract manufacturer is planning to establish the world\u2019s second-largest Battery Energy Storage System (BESS) in Tamil Nadu.\u00a0 Foxconn Likely to Open Second-largest Battery Plant in Tamil Nadu It appears that the Tamil Nadu government has proposed offering 200 acres of land for the project as part of its […]<\/p>\n","protected":false},"author":27,"featured_media":1287951,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[6603,277],"class_list":["post-1287941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-battery-plant","tag-foxconn"],"acf":[],"yoast_head":"\nTamil Nadu Allocates 200 Acres To Foxconn For Launching Their 2nd Biggest Battery Plant - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/tamil-nadu-allocates-200-acres-to-foxconn-for-launching-their-2nd-biggest-battery-plant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tamil Nadu Allocates 200 Acres To Foxconn For Launching Their 2nd Biggest Battery Plant - 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