Foxconn, a Taiwanese electronics manufacturer, is planning to establish a battery energy storage system (BESS) unit in India, according to Chairman Young Liu.
Foxconn is focusing on the electric vehicle market as it broadens its battery production operations, with its first facility already operational in Taiwan. As part of its ‘3+3 strategy,’ the company has identified three key sectors – electric vehicles, digital health, and robotics that offer significant growth opportunities, with a combined market size of $1.4 trillion and a compound annual growth rate exceeding 20%.
As reported by thehindubusinessline.com, BESS technology allows the storage of energy generated from renewable sources such as solar and wind.
