Foxconn, one of India’s largest contract manufacturers, is set to establish the world’s second-largest Battery Energy Storage System (BESS) in Tamil Nadu.
The move is part of the company’s strategy to diversify into energy-related sectors and strengthen its presence in India.
Land Allocation and Government Support
The Tamil Nadu government has proposed allocating 200 acres of land near Manalur in Tiruvallur district, about 50 kilometers north of Chennai, for the BESS project.
Foxconn and the government are in the final stages of discussions, with the company already receiving an attractive incentive package.
The collaboration reflects the growing importance of energy storage in the global transition to renewable energy and electric vehicles.
Strategic Shift Towards Energy and Electric Vehicles
Foxconn’s new focus on energy solutions aligns with its broader vision to move beyond smartphones into sectors like electric vehicles (EVs), energy, and digital health.
In August 2024, Chairman Young Liu announced Foxconn’s commitment to these industries, which have significant growth potential.
Liu emphasized that battery technology will play a central role in the company’s EV ambitions, and this BESS project is a key step in that direction.
The “3+3 Strategy”
The BESS initiative is part of Foxconn’s “3+3 strategy,” which targets three key industries – electric vehicles, digital health, and robotics – each valued at over $1.4 trillion with expected annual growth rates of over twenty percent.
The company is rapidly advancing these strategies in India, a market that offers considerable expansion opportunities.
Growing Energy Presence
Foxconn is already making strides in the energy storage space. Its first BESS unit in Taiwan is nearing completion despite delays caused by weather conditions.
The company aims to solidify its position as a major player in the energy storage industry. The proposed Tamil Nadu project will achieve this. It also seeks to contribute to India’s transition to sustainable energy.
A Hub for Energy Innovation
Foxconn is progressing with its expansion plans. It aims to make Tamil Nadu a central hub for cutting-edge energy solutions in India.
As reported by knnindia.co.in, Foxconn is poised to play a pivotal role in the country’s renewable energy landscape through the BESS project. It marks a significant step in India’s growing energy and technology sectors.
