GlobalFoundries was awarded $1.5 billion in funding by the US government through the CHIPS and Science Act.
Foxconn confirmed plans to add manufacturing capacity in India with a TWD50 billion ($1.6 billion) investment. The decision follows months of speculation about the size and location of its expanded operations.
The contract manufacturer and key Apple supplier stated the purpose of the investment was operational needs and did not disclose the site of the new facilities. The investment will be made through its subsidiary Hon Hai Technology India Mega Development.
With rising trade tension between the US and China, Apple for more than a year has been pushing its suppliers to diversify their operations by moving facilities out of China, where the company has assembled the vast majority of its devices for decades. Foxconn’s representative in India previously unveiled aims to double employment, foreign direct investment, and its business size in India, without giving any specifics.