Tags: foxconn | us plant | momentum | trump

Foxconn US Plant Gained Momentum After Trump Meeting

Image: Foxconn US Plant Gained Momentum After Trump Meeting

Terry Gou speaks during a Hon Hai group shareholders conference. (AFP/Getty Images)

 

By    |   Monday, 23 Jan 2017 11:46 AM

Foxconn Technology Group may build a $7 billion U.S. plant in a joint venture with Apple Inc. that could create up to 50,000 jobs, according to Market Watch. The project picked up momentum after a meeting with President Donald Trump.

Foxconn is the world's largest contract maker of electronics, and makes most of Apple's iPhones at its plants in China.

Terry Gou, chairman of the Taiwan-based Foxconn, said Sunday that building the facility, which would make display panels, could create from 30,000 to 50,000 jobs, reported Nikkei Asian Review.

Gou said Foxconn had been contemplating building a plant in the U.S. for years, reported Reuters. The issue picked up again when Foxconn business partner Masayoshi Son, head of Japan's SoftBank Group Corp, talked to Gou before a December meeting Son had with President Donald Trump.

Son pledged to make a $50 billion of investment in the United States and inadvertently disclosed information with Foxconn's additional $7 billion investment.

"I thought it was a private conversation, but then the next morning it was exposed," Gou said of his conversation with Son, per Reuters. "There is such a plan, but it is not a promise. It is a wish."

Nikkei also reported Sunday, according to Market Watch, that Foxconn already has plans to open a new molding plant in Pennsylvania, where it already has a facility.

"An investment by Foxconn, whose main listed unit is Hon Hai Precision Industry Co., would mark a victory for Trump, who's repeatedly blasted China for stealing American jobs and devastating U.S. manufacturing," said Bloomberg News.

"But Foxconn is one of the single largest private employers in China and the government there has conveyed its concern over the possibility that it will shift investment away from the country."

During the presidential campaign, Trump talked about returning manufacturing jobs to the United States after losing them countries like China because of cheap labor.

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Foxconn Technology Group may build a $7 billion U.S. plant in a joint venture with Apple Inc. that could create up to 50,000 jobs, according to Market Watch. The project picked up momentum after a meeting with President Donald Trump.
foxconn, us plant, momentum, trump
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2017-46-23
Monday, 23 Jan 2017 11:46 AM
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