Foxconn will reportedly be holding an event in Washington DC, the US this week to announce its investment plans in the country. As per WSJ sources, Foxconn will be setting up a factory in Wisconsin and possibly Detroit.
If the report turns out to be true, the move from Foxconn will come just days after President Donald Trump held a “Made in America” event to showcase products made in the country.
Despite being Apple’s largest supply chain vendor, Foxconn will not be setting up the factory in Wisconsin to produce components for the Cupertino giant. Instead, the factory will be used to produce display panels meant for TVs. The factory would reportedly cost upwards of $7 million to set up and create thousands of jobs.
If this factory works out for Foxconn, it could team up with Apple to set up a $7 billion display factory in the country for Apple products.
If the Chinese company does go ahead and announce its Detroit factory, it could end up manufacturing some components for Apple there.
President Donald Trump has long been trying to get Apple to produce iPhones in the United States. While the move might not be feasible due to the lack of appropriate supply chain in the country, Foxconn setting up a factory in the country alone is a big deal and could possibly encourage other Chinese companies to follow suit.
Update: According to a new report from Recode, Foxconn will make an official announcement regarding an upcoming plant destined to open in Wisconsin, in the United States, at some point in the future. The new LCD factory will be solely focused on large displays, primarily for televisions, to start. However, it has been said that Apple could invest in the factory, which means it could branch out to smaller displays at some point. However, nothing has been said on Apple’s part just yet.
The company will be investing $3 million into the flat panel display plant, and, according to Foxconn, it will be creating upwards of 3,000 jobs in the area (that number could continue to grow well after the factory opens). The company will be spending a total of $10 billion over three years to build the 20,000-square-foot plant.
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