Workers Protest: Foxconn India Plant to Be Shut For Three More Days

- Advertisement -

The plant has not been operational since 18 December 2021. Though it was to open and start functioning as early as 26 December the plant might only be operational by 30th December now

Foxconn India’s plant will remain shut for three more days till 20th December 2021. The decision was taken keeping a protest by workers in mind. These workers are protesting because of a food poisoning incident that had taken place at the Foxconn India plant located near Chennai during the third week of December.

It is worth mentioning here that the plant has not been operational since 18 December 2021. Though it was to open and start functioning as early as 26 December, a new report by Reuters points out that the plant might only be operational by 30th December now. This plant has recently started assembling Apple’s iPhone 13 models. It was already assembling iPhone 12 models when the protests had started.

- Advertisement -

Bharat FIH, Foxconn’s India’s subsidiary, has recently filed IPO papers with SEBI for Rs 5,004 crore. There is no infor on whether the food poisoning incident will leave a negative impact on the process or not. The IPO consists of a fresh issue of up to 25.02 billion shares. Bharat FIH, previously known as Rising Stars India, provides manufacturing and assembly services for Xiaomi’s mobile phones in India. It is known as the largest EMS provider in India, and has approximately 15 per cent market revenue share in FY 2021.

Bharat FIH, in its DRHP, noted it may require additional capital or financing from time to time, including for expansion of manufacturing facilities and investment in R&D. Bharat FIH is also exploring opportunities to export its products to overseas markets, including the Middle East and Africa.

Foxconn als has plans to start EV manufacturing in India by 2024. Foxconn’s Chairman Liu Young-way had earlier said that Foxconn will look to partner with the governments of the respective countries to start EV manufacturing. Bharat FIH has recently opened a research and development centre at the IIT Madras Research Park in Chennai, and plans to use it for designing end-to-end 5G devices.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

India achieves 166 GW of renewable energy target

0
Power and New & Renewable Energy Minister RK Singh declared the numbers in a written reply to the Lok Sabha. India has achieved 165.94GW of...

SEZ: 100% WFH Facility Extended till Dec 2023

0
The union commerce ministry said that IT/ITeS units in special economic zones can allow 100 per cent of their workforce to work from...

Collins Aerospace Opens Tech & Ops Centers in Bengaluru

0
Inaugurated last week, the new facilities are the key first steps of larger Raytheon Technologies investment and growth strategy in India Operations Center...

Exclusive

India achieves 166 GW of renewable energy target

0
Power and New & Renewable Energy Minister RK Singh declared the numbers in a written reply to the Lok Sabha. India has achieved 165.94GW of...

Collins Aerospace Opens Tech & Ops Centers in Bengaluru

0
Inaugurated last week, the new facilities are the key first steps of larger Raytheon Technologies investment and growth strategy in India Operations Center...

My Dream Is To See India As A Top Electronics Product Nation

0
Hailing from a highly educated, partition-affected family with a rich musical and cultural lineage, being a pioneer of the computer revolution in India, Ajai...

Important Sectors

India achieves 166 GW of renewable energy target

0
Power and New & Renewable Energy Minister RK Singh declared the numbers in a written reply to the Lok Sabha. India has achieved 165.94GW of...

Collins Aerospace Opens Tech & Ops Centers in Bengaluru

0
Inaugurated last week, the new facilities are the key first steps of larger Raytheon Technologies investment and growth strategy in India Operations Center...

Foxconn injects $500M in Indian unit

0
The Singapore subsidiary has invested in the Indian unit amid challenges with China’s zero-Covid stance. Apple Inc.’s Taiwan-based partner, Foxconn announced on Thursday that its...

Optoma Launches Eco-Friendly Laser Projectors

0
Laced with the latest laser technology and higher power conversion efficiency: Optoma A 34% reduction in size as compared to the previous generation...

36 Volvo Electric Trucks Ordered by Australia

0
Placed by Team Global Express, these trucks will hit the streets of Sydney in 1Q23. This is Volvo’s largest electric truck order to date...

Manufacturing

Foxconn injects $500M in Indian unit

0
The Singapore subsidiary has invested in the Indian unit amid challenges with China’s zero-Covid stance. Apple Inc.’s Taiwan-based partner, Foxconn announced on Thursday that its...

ESDM-Hub in the Making: EPIC Partners With Odisha

0
The proposed initial product line for the collaboration will include manufacturing an Indian tablet PC with global quality Underprivileged people of the state...

SiC Substrate Manufacturing Tech: ST Set to Cooperate With Soitec

0
Soitec technology adopted by STMicroelectronics for future 200mm Silicon Carbide substrate production Global semiconductor giant, STMicroelectronics and Soitec, a leading semiconductor materials manufacturer, recently announced...

Luxoft Expands Presence in India with Opening of New Chennai Office

0
The new site will extend Luxoft’s ability to understand, develop, and seamlessly deliver tailor-made, end-to-end software solutions to clients in Chennai and across the...

Veira Group Set to Manufacture webOS Hub 2.0 Smart TVs

0
Veira—a strategic ODM India partner for the OS—aims to manufacture over a lakh webOS Smart TVs for leading Indian brands webOS Hub is...