Wistron Corp to set up laptop making unit in India's Karnataka for $181 million (updated)

Wistron

31/01/2024 16:04

(Adds details, background)
       BENGALURU, Jan 31 (Reuters) - Taiwan's Wistron Corp
 3231.TW  has signed a non-binding agreement to invest 15
billion rupees ($180.7 million) in setting up a laptop
manufacturing unit in the Indian state of Karnataka, the local
government said on Wednesday.  
    The proposed plant is expected to create around 3,000 jobs
and also produce electric vehicle-related parts, a statement
from the government said. 
    Wistron plans to start manufacturing laptops at the plant
from January 2026 and export more than half of the laptops made
at the unit. 
    The deal comes months after Wistron approved sale of its
unit that made Apple  AAPL.O  iPhones in the country to
salt-to-software conglomerate Tata Group in an estimated $125
million deal. 
    In November 2023, India granted incentives to companies like
Dell  DELL.N , HP  HPQ.N  and Foxconn  2317.TW  to make IT
hardware locally as part of its bid to become a powerhouse in
the global electronics supply chain. 
    The south Indian state of Karnataka is being seen as a
lucrative ground to set up manufacturing facilities as companies
such as Foxconn look for ways to diversify away from China
following COVID-19 disruptions and geopolitical tensions.

($1 = 82.9930 Indian rupees)

 (Reporting by Haripriya Suresh in Bengaluru; Writing by Hritam
Mukherjee; Editing by Shailesh Kuber)
 ((Hritam.Mukherjee@thomsonreuters.com; X: @MukherjeeHritam;))