Taiwanese electronics manufacturing giant Foxconn is working on plans to set up a Battery Energy Storage System (BESS) unit in India.

With an eye on the electric vehicle segment, Foxconn has been expanding its battery manufacturing business, with the first plant already set up in Taiwan.

Foxconn's information and communication technology segment has just started in India. The company is also waiting to put 3+3 future industry in India and talking to the Ministry for Industries about how they can collaborate on BESS (Battery Energy Storage System) in Tamil Nadu.

As part of the "3+3 strategy", Foxconn has prioritised the three key industries -- electric vehicles, digital health, and robotics industries, each has a significant growth potential with current scale at USD 1.4 trillion and over 20 per cent compound annual growth rate.

Foxconn's battery storage business is more focused on electric vehicles. The company has proposed to set up an electric vehicle unit in India as well.

Foxconn has invested USD 10 billion in India so far, and plans more investment in the coming year.

On 17 August 2024, chief minister of Tamil Nadu, Mr. M K Stalin in the presence of Foxconn Chairman Young Liu inaugurated the SIPCOT Mega Industrial Housing Facility in Vallam Vadagal, Kancheepuram to house 18,000 women workforce.