Foxconn adds $1 billion to investment in giant Karnataka Apple plant

Foxconn Technology Group has won approval to invest at least $1 billion more in a plant it’s building in India that will make Apple Inc products, a major ramp-up in its goal of building a hub beyond China.

The world’s biggest assembler of iPhones plans to spend that amount on top of the $1.6 billion it earlier set aside for the 300-acre site close to Bengaluru’s airport, people familiar with the matter said. The new capital will bankroll additional capacity for Apple devices, including likely the iPhone, people familiar with the matter said, declining to be named as the information is private.