Foxconn's new factory will employ 25,000 workers, according to a government tweet. The company is one of the largest global suppliers of iPhones.
Foxconn's concerted push comes as China actively courts outside investment and attempts to rebuild industrial output after lengthy Covid lockdowns sent production numbers plummeting.
As geopolitical tensions between the U.S. and China mount, however, global companies like Apple have begun to push their suppliers to diversify out of the country, which had long been a hub for affordable and dependable production.local outlets that it didn't enter into any "binding, definitive agreements for new investments during this trip."
Despite those comments, Foxconn entered into an agreement with the Telangana government on Mar. 2, according to a tweet quoting Telangana's IT minister K.T. Rama Rao. Foxconn did not immediately respond to a request for comment on the discrepancy on when a deal was reached.
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