14.02.2022 16:45 Uhr, Quelle: AppleInsider

Foxconn plans $118M investment into Indian semiconductor joint venture

Apple iPhone assembly partner Foxconn is working with Vedanta to produce semiconductors, a move that could help ease the global chip shortage by boosting production in India.In a deal announced on Monday, the Taiwanese Foxconn said it has signed a memorandum of understanding with Vedanta, an oil-to-metals group, to produce semiconductors. The initiative will create a joint venture company, which would be a "significant boost to domestic manufacturing of electronics in India."As part of the agreement, Foxconn will invest $118.7 million into the company, reports Reuters, and would hold 40% of the shares, while Vedanta becomes the majority shareholder.Read more

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