Foxconn is putting some of its money where its “things are getting better in the supply chain” mouth is. Apple’s manufacturing partner issued a press release Monday, announcing a joint venture to make semiconductors in India. The Taiwanese manufacturer is teaming with the India-based multinational Vedanta to make chips on the subcontinent.
The joint venture seems less about getting the world out of the current semiconductor shortage than it is about longterm plans for India. Money lines from the press release include:
This first-of-its-kind joint venture between the two companies will support Indian Prime Minister Narendra Modi’s vision to create an ecosystem for semiconductor manufacturing in India.
And:
The targeted project (…) will provide a significant boost to domestic manufacturing of electronics in India.
That said, you’ve gotta figure that semiconductor manufacturing anywhere is good for semiconductor supply everywhere. No word in the release on when the joint venture will actually start cranking out chips.
