Foxconn unit denies signing components’ plant deal with #TamilNadu: Report
It was all over the media and social media on July 31 that the Tamil Nadu government signed an agreement with Foxconn to set up a mobile component manufacturing unit in Kancheepuram. On August 1, multiple media outlets including India Today, and Business Insider reported that the Foxconn unit denied the deal with the Tamil Nadu government.
— Business Standard (@bsindia) August 1, 2023
— Reuters (@Reuters) August 1, 2023
Reuters reported that the Foxconn Industrial Internet (FII), a subsidiary of tech giant Foxconn denies signing a deal with Tamil Nadu. It further stated “We did not sign any investment agreement,” FII was quoted as saying by the Securities Times newspaper, adding the company had issued a statement in July refuting similar “rumours.” This appeared to be the initial source of information which is later amplified by other media and social media users, especially BJP supporters.
Yesterday @bolbhidu did a video on how south India is ideal for large industries like Foxconn and spread FAKE news of how Foxconn signed deal with Tamil Nadu.
This lie is now out in open, Foxconn arm denies signing Rs 1,600 crore deal to build facility in Tamil Nadu: Report… pic.twitter.com/bX22rzLhz7
— 🇮🇳 VAIBHAV JOSHI 🇮🇳 (@ENGGVJ) August 1, 2023
— Major Madhan Kumar 🇮🇳 (@major_madhan) August 1, 2023
What is the truth?
When searching with relevant keywords we found multiple articles reporting the Foxconn deal as well as the denial of signing an agreement with the Tamil Nadu government. However, a tweet by the official handle of ‘Minister for Industries, GoTN, India’ clarified the issue.
The fact is Tamil Nadu government did not sign a deal with Foxconn Industrial Internet (FII), a subsidiary of Foxconn but signed a deal with Hon Hai Technology or Foxconn. This is stated in the 31, July 2023 dated tweet by the TN Minister of Industries. The tweet further states that a Letter of Intent was signed to set up a new mobile components manufacturing facility at a cost of Rs. 1600 crore in Kanchipuram district where the project has the potential to generate 6000 jobs.
🚨 Big news and a proud moment for #TamilNadu!
Today, in the presence of Hon’ble @CMOTamilnadu Thiru @MKStalin avargal, M/s. Hon Hai Technology Group (#FOXCONN) signed a Letter of Intent with @Guidance_TN to set up a new mobile components manufacturing facility at a cost of Rs.… pic.twitter.com/eIf0QyIbi7
— Minister for Industries, GoTN, India (@TNIndMin) July 31, 2023
IANS tweeted that an agreement was signed between Taiwanese electronics major Hon Hai Technology Group or Foxconn and Tamil Nadu government to set up a mobile phone component manufacturing facility in TamilNadu’s Kancheepuram district at an outlay of Rs 1,600 crore.
Taiwanese electronics major Hon Hai Technology Group or #Foxconn will be setting up a mobile phone component manufacturing facility in #TamilNadu's Kancheepuram district at an outlay of Rs 1,600 crore.
An agreement to this effect was signed between Foxconn and Tamil Nadu… pic.twitter.com/7AKpW8m31V
— IANS (@ians_india) July 31, 2023
A tweet of TRB Rajaa, Minister of Industries is found carrying images from their meeting with Chairman & CEO of Hon Hai, Mr. Young Liu. He also quoted a LinkedIn post of V Lee, Foxconn’s representative in India, which said ‘we are committed’ in his other tweet.
The Economic Times also published a news report claiming that FII denied signing deal with Tamil Nadu government quoting Reuters as its source. But it its another news report on Foxconn’s mobile accessories unit in Bengaluru it updates that “Foxconn Hon Hai (FHH) and not Foxconn Industrial Internet (FII) has signed the letter of intent, as clarified by the Tamil Nadu government”.
CNBC TV 18 also clarifies that the media outlets confused Hon Hai Technology or Foxconn with one of its subsidiaries Foxconn Industrial Internet (FII). The deal with the Tamil Nadu government was signed by Hon Hai Technology and not FII, clarified CNBC quoting the tweet by Industries Minister’s handle.
A video by CNBC-TV18 shows Young Liu speaking to journalists on July 31 after he visited Foxconn’s largest plant in India in Sriperumpudur. The tweet by Tamil Nadu Industries Minister is dated July 31. And it was all over the news that Han Hoi Technology or Foxconn has signed the deal. Despite that, reports by some of the media outlets dated August 1 with a lack of research lead to confusion and debates.
— Sun News (@sunnewstamil) August 1, 2023
Further, the Minister TRB Rajaa clarified that the deal with Foxconn is true. He mentioned that “Han Hoi Technology manufacturing unit will be set up at a cost of Rs. 1,600 crore generating jobs to 6000 people. The news report by Reuters is false. FII mentioned by Reuters is another subsidiary of Foxconn. If we check with them, they would deny for sure. We have clearly stated the details in our press release”, quoting the rumours being spread by BJP supporters.
It is found that the Foxconn group has signed a deal with the Tamil Nadu government to set up a mobile components manufacturing facility at Kancheepuram. But the investment is not through one of its subsidiaries, Foxconn Industrial Internet (FII), but through Han Hoi Technology.