Home / Business / Apple and Foxconn weighing $7 billion display plant in U.S., report says

Apple and Foxconn weighing $7 billion display plant in U.S., report says

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Foxconn may team with Apple to build $7 billion manufacturing facility in U.S.

Foxconn may team with Apple to build $7 billion manufacturing facility in U.S.*/

– Foxconn Technology Group is considering building a display-panel manufacturing facility in the United States in a joint venture with Apple Inc. that could create up to 50,000 jobs, the company’s chairman said Sunday.Terry Gou, Taiwan-based Foxconn’s chairman and CEO, said the facility could cost $7 billion and create between 30,000 and 50,000 new jobs, according to a report by the Nikkei Asian Review, and could include the production of TV screens in addition to smartphone displays.Gou noted that the U.S. has no TV-display factories, even though it is the world’s second-largest TV market.
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Apple and Foxconn weighing $7 billion display plant in U.S., report says

Apple and Foxconn weighing $7 billion display plant in U.S., report says*/

– Apple’s main manufacturing partner, Foxconn, is considering the possibility of a $7 billion joint investment in an automated display production facility in the U.S., the latter company’s chairman said on Sunday.”Apple is willing to invest in the facility together because they need the [panels] as well,” Terry Gou told the press following a year-end party in Taiwan, according to Nikkei.The proposed facility, first rumored earlier this month, would allegedly create between 30,000 and 50,000 jobs.Although U.S. electronics manufacturing is typically more expensive —due to currency values, and higher labor and operational costs —Gou claimed that growing demand for bigger display panels makes U.S. production a better option than importing parts from China.Foxconn is also said to be planning a new molding plant in the U.S., with Pennsylvania being a possible target in the wake of investment talks with the state.
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Foxconn considers $7 billion US display factory in cooperation with Apple

Foxconn considers $7 billion US display factory in cooperation with Apple*/

– Chinese manufacturing giant Foxconn is considering investing $7 billion to build a new factory in the US assembling flat panel screens.Reports from The Wall Street Journal and the Nikkei Asian Review say Foxconn chairman Terry Gou discussed the plans at a company event this weekend, speculating that the factory could create 30,000 to 50,000 new jobs.Foxconn has been considering building such a facility in the US since 2014, and Gou said if the company were to make the move now, it would need substantial incentives from the government in the form of access to cheap land and power.
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