Foxconn Considering $10 Billion Investment In U.S. Heartland

Foxconn Technology Group is considering a $10 billion investment in the United States Heartland, according to the company's Chairman Terry Gou. While speaking to reporters following the firm's yearly shareholders meeting that took place on Thursday, the Taiwanese business tycoon said that the tech giant is looking to "revive" the manufacturing industry in the United States, once again reiterating the conglomerate's business interest in Middle America. Previous reports indicated that the New Taipei, Taiwan-based company may be opening a new factory in Wisconsin or Michigan, and while that rumored plant is likely related to the firm's growing ambitions in the West, it may be just one of several that Foxconn ends up building in the country. The firm's top executive stated that Foxconn is currently considering five states in Middle America that it may end up investing in, though another official later put that number at seven.

The Taiwanese tech giant is said to be looking to establish at least one new factory for flat-panel manufacturing in the U.S., but it's currently unclear whether that facility would be focused on mobile displays, TV and monitor screens, or both. Many industry watchers interpret Gou's latest statement as a direct attempt to appeal to the Trump administration, with the current President getting elected on the basis of a political platform centered around bringing back American jobs and stopping domestic tech giants from moving their manufacturing operations abroad. SoftBank, Toyota, and Samsung are some other Asian giants that are currently said to be considering significant investments in the country, though the latter was reportedly making related plans for several years now and didn't start considering new U.S. factories due to President Trump's economic policy.

Apart from at least one new manufacturing plant, Foxconn is currently also looking to ennoble its U.S. operations with automation solutions, in addition to building a more robust supply network in the country, Gou revealed, adding that he has recently met with three state governors and discussed the company's next steps on this front. According to the firm's Chairman, Foxconn is planning to further develop its plans by late July or early August, indicating that an update on the situation will follow shortly.

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Dominik Bosnjak

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Dominik started at AndroidHeadlines in 2016 and is the Head Editor of the site today. He’s approaching his first full decade in the media industry, with his background being primarily in technology, gaming, and entertainment. These days, his focus is more on the political side of the tech game, as well as data privacy issues, with him looking at both of those through the prism of Android. Contact him at [email protected]
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