Foxconn Technology Group, Japan's SoftBank, and India's Bharti will establish a joint venture named SBG Cleantech to promote renewable energy such as solar and wind energy in India.
The news was confirmed by SoftBank's press conference in India when the company stated they will cooperate with Hon Hai Group and Bharti Enterprises to form the joint venture. The new JV will be headquartered in Delhi, India.
The joint venture aims to generate 20 gigawatts of electricity, which equals about a USD20 billion investment. According to Masayoshi Son, chairman and chief executive officer of SoftBank, they hope to invest up to USD10 billion in India over the next few years.
Prior to this, Foxconn cooperated with SoftBank in the volume production of artificial intelligence and humanoid robots, and the companies established a related joint venture.
