MUMBAI -- Foxconn on Saturday signed a deal to invest a reported $5 billion over five years on a new electronics manufacturing facility in the western Indian state of Maharashtra.

The new site, as announced by Foxconn chairman Terry Gou and Maharashtra Chief Minister Devendra Fadnavis, could employ up to 50,000 workers.

Foxconn has been said to want to open as many as 12 facilities in India, including factories and data centers, by 2020. 

Will Foxconn follow through on its latest investment announcement? History says no.