ENA Sectors 2023-03-07 17:14:33 <p><span style="font-size:14px"><strong>New Delhi, Mar 7 (KNN)</strong> Taiwanese electronic giant Foxconn said that it has not entered into binding, definitive agreements for new investments during its Chairman Young Lius recent trip to India.</span></p> <p><span style="font-size:14px">Negotiations and internal review are ongoing where the iPhone maker would set up its manufacturing plant in India.</span></p> <p><span style="font-size:14px"><strong><a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></span></p> <p><span style="font-size:14px">The confusion started when the states of Telangana and Karnataka claimed to have signed a pact with the company to set up Apples manufacturing unit in their respective states.</span></p> <p><span style="font-size:14px">However, as per the reports, Foxconn said it has not entered into binding, definitive agreements for new investments during this trip. Negotiations and internal review are ongoing.</span></p> <p><span style="font-size:14px">It wrote two separate letters to the Telangana and Karnataka governments.</span></p> <p><span style="font-size:14px">In the communication with the Telangana government, it committed to setting up a manufacturing facility in Kongara Kalan.</span></p> <p><span style="font-size:14px">I now have a new friend in India and I look forward to working with you in future. As discussed with you during our meeting on March 21, Foxconn is committed to setting up a manufacturing facility in Kongara Kalan and I seek the support of your team in operationalising the Kongara Kalan Park as early as possible, reads the letter to the Telangana government. </span></p> <p><span style="font-size:14px">In another letter to Karnataka Chief Minister Basavaraj Bommai, Foxconn said its team will be in close contact to take forward Project Elephant. </span></p> <p><span style="font-size:14px">The company, in the letter to Bommai, said this Project Elephant will lay a strong foundation for the companys other multiple plans, spanning mechanical/ precision machinery, electric vehicle, IC design and semiconductor segments to consider the state as a potential investment destination. <em><strong>(KNN Bureau)</strong></em></span></p> 32560 https://knnindia.co.in/news/newsdetails/sectors/foxconn-undertakes-internal-review-to-confirm-its-manufacturing-plant-location-in-india 2023-03-07 17:14:33 knnindia.co.in