Apple Supplier Foxconn To Build $270 Million Plant In Vietnam Amid U.S.-China Tensions
Foxconn Technology, a Taiwanese electronics manufacturer that supplies products for Apple recently received a license from the Vietnamese government to build a $270 million plant in the country despite US-China tensions. The plant will manufacture Apple laptops and tablets in the Southeast Asian nation in the rural province of Bac Giang, close to Hanoi. The plant will be capable of manufacturing eight million units annually, according to a posting on the Vietnamese government’s website.
Foxconn was founded by Taiwanese billionaire Terry Gou and has been operating in Vietnam since 2007. According to the Vietnamese government, the company plans to invest another $700 million and hire 10,000 locals to work at the plant. Foxconn assembles most of its iPad and MacBooks for Apple in China, where it boasts 12 factories across nine cities. However, at the request of Apple, it is working to relocate some work to Vietnam.