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22:00, 07-Aug-2017
Foxconn announces increased investment in China, US
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Foxconn Chairman Terry Gou has announced his company plans to increase investment in both China and the US, according to a report released by the Securities Times on Monday.
May 26, 2010: Employees work inside a Foxconn factory in the township of Longhua in southern Guangdong Province. /VCG Photo
May 26, 2010: Employees work inside a Foxconn factory in the township of Longhua in southern Guangdong Province. /VCG Photo
"We are doing business. Foxconn has ambition. Market and technology are both directions we are chasing for," Gou told the newspaper.
"In terms of technology, Foxconn will have big development in China and the United States, with large investments on both sides. However, investing in one market does not mean other market's investment will reduce."
Foxconn's computer motherboards are seen during the annual Computex computer exhibition in Taipei, Taiwan June 1, 2016. /VCG Photo
Foxconn's computer motherboards are seen during the annual Computex computer exhibition in Taipei, Taiwan June 1, 2016. /VCG Photo
Foxconn, the world's largest electronics contractor, announced on July 27 that the company would invest 10 billion US dollars in a liquid-crystal display panel manufacturing facility in Wisconsin, US, over the next four years.
The investment will be the largest new greenfield investment made by a foreign company in the history of the US, and will create a total of 3,000 new jobs and an additional 10,000 more in the future, Foxconn said in a statement.
On Aug 2, the media also reported Foxconn planned to spend 30 billion US dollars on the project, which would be three times the amount of money the company has previously pledged.
"We are not sure if the investment figure will reach 30 billion US dollars in the United States," Gou said.
"Besides Wisconsin, Foxconn is also in talks with other states. We will cooperate with Michigan on next generation auto technology, such as Internet of Vehicle (IOV) and self-driving cars."
"The Michigan investment will be unveiled soon, yet the transaction amount cannot be released," Gou said.
Gou refused to comment on whether an Apple supply chain will partly transfer to the US, but added the most important thing is to complement each other's strengths.
Taiwan-based Foxconn, formally known as Hon Hai Precision Industry Co Ltd, is a major supplier to Apple Inc for its iPhones.
(Source: China Daily)
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