Under Taiwanese law, any foreign investment by local companies requires authorization from the Ministry of Economic Affairs (MOEA), which in 2024 approved overseas investments totaling approximately 38.667 billion euros.
In a statement released today, the MOEA’s Investment Review Department reported approving a project by Foxconn to invest $1.489 billion (1.281 billion euros) in its Singapore subsidiary. This subsidiary will reinvest the funds in a new factory in India, designated for mobile phone component production.
This initiative is part of efforts to reconfigure the iPhone supply chain in response to escalating trade tensions between the United States and China.
The Financial Times reports that India is expected to become the final manufacturing destination for over 60 million iPhones targeted for the U.S. market by the end of 2026.
The ministry also approved a second investment of $735 million (632 million euros), directly financed by Foxconn, for the establishment of Project ETA. This venture focuses on assembling and producing servers and modular data centers in the United States.
The production of servers for artificial intelligence applications has become a key focus for Foxconn, which expects to surpass sales of one trillion Taiwanese dollars (29.251 billion euros) in this sector this year, accounting for 50% of its total business volume in this area.
Founded in 1974, Foxconn is currently the world’s largest contract manufacturer of electronic products, with factories and research centers in countries including China, India, Japan, Vietnam, and the United States.
Like other technology companies, Foxconn has benefited from the growing optimism surrounding artificial intelligence and is currently one of the leading manufacturers of Nvidia’s GB200 servers.
