Foxconn pulls out of $19.5 billion semiconductor JV but Vedanta says other partners already lined up
Foxconn is ending its joint venture with Vedanta Ltd to make semiconductors in India and will remove its name from the fully-owned entity. Meanwhile, after Foxconn's withdrawal from chip JV, Vedanta says it has lined up other potential partners to set up India's first foundry
Foxconn said on Monday it is pulling out of a joint venture with Taiwan's Foxconn said on Monday it has withdrawn from a $19.5 billion semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta Ltd that was set up to make semiconductors from India. Foxconn says not proceeding with Vedanta JV on mega semiconductor plan. "Foxconn is working to remove the Foxconn name from what now is a fully-owned entity of Vedanta".