# Foxconn withdraws from semiconductor joint venture with Vedanta

Foxconn has withdrawn from its joint venture with Vedanta for semiconductor manufacturing in India. The partnership, established in 2022 with a planned investment of $19.5 billion, is now fully owned by Vedanta. The announcement was made on July 10, 2023.

- Type: Closure
- Announced: 2023-07-10
- Where: Gujarat, India
- Value: $19.5B
- Status: cancelled
- Products: semiconductors, displays
- Sectors: [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [Foxconn](https://endata.com/companies/15170.md)
- [Vedanta](https://endata.com/companies/10003.md) (partner)

## Sources

- [displaydaily.com](https://displaydaily.com/foxconn-withdraws-from-indian-semiconductor-joint-venture-with-vedanta/), 2023-07-10: "Foxconn has officially announced its decision to withdraw from a joint venture with Vedanta for semiconductor manufacturing in India."
- [apnews.com](https://apnews.com/article/foxconn-semiconductor-deal-vedanta-mining-a5c945fbbce2b407986e8216f1aaf8e6), 2023-07-12: "Taiwan-based electronics giant Foxconn is backing out of a $19.5 billion semiconductor joint venture with Indian mining conglomerate Vedanta Ltd."
- [ndtvprofit.com](https://www.ndtvprofit.com/business/foxconn-backing-out-of-semiconductor-jv-credit-negative-for-vedanta-creditsights-10025771), 2023-07-13: "Taiwan's Foxconn pulling out of a $20 billion semiconductor-making venture with Vedanta Ltd., is a 'credit negative' for the mining conglomerate's U.K. parent Vedanta Resources, debt research firm CreditSights said on Thursday."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.