Foxconn to build automotive R&D center in Michigan

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Governor of the US state of Michigan Rick Snyder met with Terry Gou, founder and CEO of the world’s largest iPhone maker Foxconn Technology Group. Their meeting in Shenzhen on Saturday afternoon discussed potential investment in the automobile industry, China Daily reported late Saturday.

Gou said his company plans to establish a research center engaging in driverless auto technology in Michigan, which accounts for 70 percent of the US auto industry's research and development, the report said.

The auto industry in the US is still more advanced than in China, Gou said, but declined to reveal the investment amount for Michigan, South China Morning Post reported Sunday.

Last week, Gou jointly announced with US President Donald Trump a 10-billion-US-dollar investment to build a flat screen LCD factory in Wisconsin, a project which gives the electronics manufacturer a three-billion-US-dollar tax break over 15 years.

Following the announcement, Snyder had questioned the "price" paid by Wisconsin to bring in the investment. CNBC reported on July 27 that the Michigan governor said, “I don’t believe in buying companies into our states.”

President Trump said Foxconn’s total investment in the US will triple but Gou told the media that “I can't say it is a sure thing, but we are indeed in discussion with several other states and the details will be announced soon,” according to China Daily.

(Source: China Daily)