iPhone Manufacturer Invests $10 Billion on U.S. Plant

Terry Gou, chairman of the electronics giant, claims the company could spend up to $10 billion to expand manufacturing in the US.

Foxconn — the Tawianese manufacturer of iPhones and other devices for Apple, Sony and other companies — could be exploring an investment in Texas, its founder said.

By early August, Gou said, the firm plans to announce plans for at least three states.

According to breitbart,

(Reuters) — Foxconn, the world’s largest contract electronics maker and a major Apple Inc supplier, plans to invest more than $10 billion in a display-making factory in the United States and will decide on the location of the plant next month.

The Taiwan-based firm has been eyeing U.S. investments for some time and its CEO, Terry Gou, had previously said the company hoped to spend over $7 billion to set up a display-making plant in the country – which has no panel-making industry but is the No.2 market for televisions.

Foxconn, formally known as Hon Hai Precision Industry Co, is currently considering Wisconsin, Ohio, Michigan, Pennsylvania and North Carolina as possible locations, Gou told reporters after the company’s annual shareholders meeting on Thursday.

“In July we will make a conclusion,” Gou said, adding the company would invest the money over five years.

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