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Foxconn Expertise Group is India as its third international base for tapping into the potential electrical automobile (EV) outsourcing market, with plans to seize 5 per cent of the gross sales worldwide by 2025. The corporate goals to ship between 500,000 and 700,000 EVs by that point.
The Taiwanese firm has already acquired a plant in Ohio, US, for $230 million, able to producing 500,000–600,000 automobiles yearly.
First Printed: Aug 13 2023 | 11:25 PM IST
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