As part of the agreement, HyVision will invest INR 40 Cr to install a camera inspection device factory near Foxconn’s unit in Devanahalli.
Just a few days ago, the Karnataka government signed memorandums worth 1,040 Cr rupees with two other South Korean companies, DN Solutions and EMNI, in Seoul.
In recent times, many electronics corporations have expanded their presence in India, with Foxconn, Wistron, Tata Electronics, and Kaynes Technology leading this trend.
HyVision System, a South Korea-based camera module inspection equipment company, has partnered with the Karnataka government to build a new facility in the state.
As part of the agreement, HyVision will invest INR 40 Cr to install a camera inspection device factory near Foxconn’s unit in Devanahalli.
HyVision System is a company specializing in symbol processing, signal processing, and motion control. It develops and manufactures camera modules and a ToF/lidar inspection system, visual inspection, AOI, secondary battery and intelligent component (EdgeCom).
These are primary corporations such as Apple, Tesla, Hyundai, and Kia.
On Friday, July 5, the company signed a Memorandum of Understanding (MoU) with Karnataka for the new plant.
Karnataka’s Minister of Trade and Industry, MB Patil, said in an X message: “We had a productive assembly with HyVision. They signed a Memorandum of Understanding (MoU) to build a new factory of inspection devices with cameras in India (investment of INR 40 Cr) in the vicinity of Foxconn services. The verbal exchange focused on plans to release production operations into China and India services and ongoing production recruitment for on-site positions.
In May last year, Foxconn bought land for 300 kroner ($37 million) to build a new production facility in the Information Technology Investment Region (ITIR) at Doddaballapur in Devanahalli Taluk, near where the HyVision plant will be built.
Just a few days ago, the Karnataka government signed memorandums worth 1,040 Cr rupees with two other South Korean companies, DN Solutions and EMNI, in Seoul.
In recent times, many electronics corporations have expanded their presence in India, with Foxconn, Wistron, Tata Electronics, and Kaynes Technology leading this trend.
The move follows reports that Apple Foxconn plans to invest another INR 13,911 ($1. 67 billion) in Karnataka.
Last year, Foxconn announced an investment of INR 8,500 Cr for a production unit that is expected to generate more than one lakh of job opportunities in Karnataka over the next 10 years.
Bangalore, the capital of Karnataka, is India’s Silicon Valley and boasts several unicorns and a proven startup ecosystem. The city also dominates investment trends, as in February this year Bengaluru raised $414 million in investments, accounting for more than a portion of the total investment.
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