“Chinese manufacturing giant Foxconn is considering investing $7 billion to build a new factory in the US assembling flat panel screens,” James Vincent reports for The Verge. “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.”
“The new factory might be a joint investment with Apple. ‘Apple is willing to invest in the facility together because they need the [panels] as well,’ said Gou according to the Nikkei Asian Review,” Vincent reports. “Any investment by Apple in the project would be a political victory for President Donald Trump, who has repeatedly railed against the iPhone-maker for outsourcing jobs to China.”
“Bloomberg reports that the new facility would also involve Japanese display manufacturer Sharp, which Foxconn bought last year for $3.5 billion,” Vincent reports. “This isn’t the first we’ve heard of these plans, as Foxconn’s logo (as well as the $7 billion figure) both appeared in a presentation to journalists by SoftBank CEO Masayoshi Son last December. In the same presentation it was announced that SoftBank would invest $50 billion in the US over the next four years.”
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