Major gamechanger in the electronics manufacturing industry in Taiwan, Foxconn is preparing to open a Battery Energy Storage System facility in India.

Foxconn has been engaged in growing its battery production business, with the first plant already established in Tai, with an eye toward the electric vehicle market.

Chairman Young Liu, “We are also waiting to put our 3 3 future industry in India. I have been talking to the minister for industries here about how can we collaborate on BESS (Battery Energy Storage System) in Tamil Nadu”.

The three main businesses that Foxconn has prioritized as part of its "3+3 strategy" are digital health, robotics, and electric vehicles.

With a combined market value of $ 1.4 trillion and compound annual growth rates of over 20 percent, each of these industries has considerable growth potential.

The battery storage division of Foxconn is primarily concerned with electric cars.

Energy storage from renewable sources, such as solar and wind power, is made possible by battery energy storage systems, or BESS.

The business has also suggested opening an electric vehicle division in India.

By 2024, Foxconn's revenue in India is expected to reach above USD 10 billion, according to Liu.

"So far, till last year, we have done USD 10 billion. We will do much more in this coming year," Liu said.

Speaking off-camera at the company's women-only residential complex's opening next to Foxconn's plant in this area was the speaker.

"After visiting so many states in India, I felt that India is ascending. Foxconn wants to be a part of it. We will grow together with India's growth," Liu said.