HyVision To Build New Plant Near Foxconn Facility In Bengaluru

By Inc42 Media

SUMMARY

As part of the pact, HyVision will be investing INR 40 Cr to set up a camera inspection machine plant near the Foxconn unit in Devanahalli

Just days ago, the Karnataka government signed MoUs worth Rs 1,040 Cr with two other South Korean companies, DN Solutions and EMNI, in Seoul

In recent times, many electronics companies have significantly expanded their footprint in India, with Foxconn, Wistron, Tata Electronics, and Kaynes Technology leading this trend

South Korea-based camera module inspection equipment supplier HyVision System has joined hands with the Karnataka government to build a new facility in the state.

As part of the pact, HyVision will be investing INR 40 Cr to set up a camera inspection machine plant near the Foxconn unit in Devanahalli.

HyVision System is a company that specialises in image processing, signal processing and motion control. It develops and supplies camera modules & ToF/ lidar inspection system, vision inspection, AOI, secondary battery and smart component (EdgeCom). 

It is a supplier to major companies like Apple, Tesla, Hyundai, and Kia.

On Friday (July 5), the company signed a memorandum of understanding (MoU) with the Karnataka government for the new plant.

Karnataka’s Minister for Commerce and Industries, MB Patil, said in an X post, “Had a productive meeting with HyVision. They signed an MoU to build a new camera inspection machine plant in India (INR 40 Cr investment) near the Foxconn facility. The conversation included plans to initiate manufacturing operations in China and India facilities and the ongoing recruitment of manufacturing personnel for on-site positions.”

In May last year, Foxconn purchased land for INR 300 Cr ($37 Mn) to build a new manufacturing facility in the Information Technology Investment Region (ITIR) at Doddaballapur in Devanahalli Taluk, close to where HyVision’s plant will be built. 

Just days ago, the Karnataka government signed MoUs worth Rs 1,040 Cr with two other South Korean companies, DN Solutions and EMNI, in Seoul.

In recent times, many electronics companies have significantly expanded their footprint in India, with Foxconn, Wistron, Tata Electronics, and Kaynes Technology leading this trend.

This development follows reports that Apple supplier Foxconn plans to invest an additional INR 13,911 Cr ($1.67 Bn) in Karnataka. 

Last year, Foxconn announced an INR 8,500 Cr investment for a manufacturing unit expected to generate over one lakh employment opportunities in Karnataka over the next 10 years.

Karnataka’s capital Bengaluru is hailed as the Silicon Valley of India, accounting for several unicorns and a proven startup ecosystem. The city also dominates the funding trends as in February this year, Bengaluru bagged $414 Mn in funding, sizing for more than half of the total funding.

Source: Inc42 Media