CUPERTINO (dpa-AFX) - Foxconn Technology Group is considering a joint investment with Apple Inc. (AAPL) topping $7 billion for a highly automated display facility in the U.S., the Nikkei Asian Review reported.
The report quoted Foxconn Chairman Terry Gou as saying that Apple is willing to invest in the facility together because they need the panels as well. The U.S. production site eventually would create 30,000 to 50,000 jobs.
The report indicated that Foxconn, also known as Hon Hai Precision Industry Co., also plans a new molding facility in the U.S., with the state of Pennsylvania a possible site following investment discussions with local officials.
The report said Smart Technologies, a Foxconn-controlled interactive display startup based in Canada, may move south of the border now that U.S. President Donald Trump has signaled his intent to renegotiate the North American Free Trade Agreement.
Trump, who campaigned on pledges to incentivize domestic production and impose 45% tariffs on Chinese and Mexican imports, used his inaugural address Friday to reiterate his commitment to deliver local manufacturing jobs.
Copyright RTT News/dpa-AFX