Foxconn, a significant innovator in Taiwan's electronics manufacturing sector, is getting ready to establish an Indian plant for Battery Energy Storage Systems.

With an eye on the electric car industry, Foxconn has been expanding its battery production business, with the first factory already completed in Tai.

"We are also waiting to put our 3 3 future industry in India," said Chairman Young Liu. I've been discussing how we might work together on the BESS (Battery Energy Storage System) in Tamil Nadu with this minister for industry.

Foxconn's "3+3 strategy" focuses on three primary industries: electric cars, robots, and digital health.

Each of these businesses has significant room to develop, with a total market value of $1.4 trillion and compound annual growth rates of more than 20 percent.

Electric automobiles are the main focus of Foxconn's battery storage division.

Battery energy storage systems, or BESS, enable the storage of energy from renewable sources like solar and wind power.

Additionally, the company has recommended starting an electric car segment in India.

According to Liu, Foxconn's revenue in India is anticipated to surpass USD 10 billion by 2024. "Up until last year, we completed USD 10 billion in transactions. We have a lot more planned for the upcoming year," Liu declared.

The speaker was off-camera at the launch of the company's women-only residential complex near Foxconn's facility in this vicinity. "I had the impression that India was rising after seeing so many of its states. Foxconn desires to participate in it. We'll develop in tandem with India's progress, Liu stated