Foxconn plans $700M investment in India plant, Bloomberg reports

Apple (AAPL) supplier Foxconn (HNHPF) plans to invest roughly $700M on a new plant to make iPhone parts on a 300-acre site in Bengaluru, India, as part of a shift away from manufacturing in China, Bloomberg’s Sankalp Phartiyal and Debbu Wu report. According to people familiar with the matter, the plant is expected to create some 100,000 jobs. The factory may assemble Apple’s handsets and Foxconn may also use the site to produce some parts for its electric vehicle business, some of the people say. Reference Link