Posted on 08/05/2017 6:44:59 PM PDT by 2ndDivisionVet
Foxconn Technology Group, the world’s largest contract manufacturer of consumer electronics, said it’s planning a multibillion dollar investment in the US state of Michigan, a week after announcing a US$10 billion plant in Wisconsin, giving a shot in the arm to Donald Trump’s election pledge to lure investments and create jobs for Americans.
The new plant will be engaged in the research, development and production of components and vehicles that can drive autonomously, said Terry Gou, founder of the Taiwanese company, on Saturday in Shenzhen.
“Automotive development in the US is still more advanced than China,” said Gou, declining to divulge the investment amount for Michigan. “Besides self-driving technology, I’m also interested in artificial intelligence and deep learning technology.”
Foxconn’s Wisconsin plant will assemble liquid crystal display (LCD) panels, with an operation that creates 3,000 jobs, and with the potential to expand to 130,000 jobs over four years.
The Taiwanese company, also known as Hon Hai Precision Industry Co., could triple its investment to US$30 billion eventually, Trump had said earlier without elaborating on details.
“The amount of investment has not been confirmed,” Gou said, when asked about his company’s potential investment in the United States.
Michigan, in the US mid west, is home to Detroit, the heart of the US automotive industry, where General Motors Corp, Ford Motor Co. and Chrysler Corp have their headquarters.
Founded in 1974, Foxconn is the world’s largest electronics manufacturer, and has been an assembler of computers for Dell, as well as iPhones and iPads for Apple Inc. For many years, it’s based its assemblies in low-wage countries such as China, putting together gadgets that eventually are distributed and sold in the US and Europe.
With tax incentives and subsidies by US states desperate for Foxconn’s investments, setting up plants in America may turn out to be cheaper than producing in China, where manufacturing is increasingly hobbled by rising wages and scarcity of trained labour. It’s also a fillip to the Trump administration’s “America First” mantra.
Foxconn hasn’t been alone. Toyota and Mazda said this week they will jointly build a US$1.6 billion assembly with the capacity to produce 300,000 electric self-driving cars and create up to 4,000 jobs.
The commitment by the Taiwan company, which operates at least half a dozen facilities in mainland China with close to 1 million workers on staff, does not mean Foxconn will reduce its investments in China, Gou said.
“We will take advantage of different regions to develop our business,” he said. “An increase in investment in the US does not necessarily mean a reduction in investment in China.”
MAGA
PEPE!!!!
ALL HAIL KEK.
;-)
“There should be a line forming of pundits and reporters wanting to apologize to the president for calling him a liar on this Foxconn business.”
I wan’t aware pundits and reporters were saying such things. Maybe you’re just hanging out at the wrong bars...
Always glad to see businesses starting or expanding operations in Michigan. Hopefully they will set up apprenticeship programs so they can train young people who want to learn and are willing to work.
Not sure about Detroit though. It’s still the pits, as far as I know. I would suggest Lansing, the best city in the state.
Yeah, I just imagine this stuff.
Apple refuses to confirm Trump’s wild claims
http://bgr.com/2017/07/26/donald-trump-apple-factories/
BGR? Like I said, you may be hanging out at the wrong bars.
What does the source have to do with it?
CBS.
Sorry, I lost track of what thread I was responding to.
You asked: what does the source have to do with it?
I think the question we all ask or should ask is if the source is reliable. I never heard of BGR. Maybe they have more cred and a following than I’m thinking.
The WIN is wide and deep.
I provided you the first example I came across of the press intimating that President Trump was lying about the size and scope of the Foxconn investment in the United States as relayed to him by company executives. If I’d kept going I could have given you a dozen examples. BTW I once was a human resources rep. for a staffing agency at a Foxconn plant here in Texas and it was the highest-paying salaried job I’ve ever held. I’ve made more selling things, but not at a regular job.
I hope you know I was just teasing and meant no offense. I’ll take you at your word that some media accused Trump of lying about FoxConn jobs. I have to remind myself sometimes that there is a rather large media contingent that will pounce on Trump and accuse him of lying every time he says or tweets something.
Interesting that you worked for FoxConn. I’m always interested in hearing about FReepers’ life experiences.
My company had Foxconn as a client and we were in a Foxconn plant. I sometimes travelled a couple of miles to another Foxconn plant that was about 15X the size of the one I usually worked in. Unbelievably big. In our plant was a sealed-off area where they repaired the Apple i-phones that supposedly didn’t break down. LOL
How did your company represent FoxConn?
We provided temporary workers for those factories. We were a staffing agency. I was basically the human resources person for the workers, since they technically worked for us, not Foxconn. I had the weird shift of Friday through Sunday. Hard to find near six-figure jobs where you only work three days a week that don’t entail being on television.
Sounds like a great gig! If I had to work only 3 days a week, I would probably pick Friday-Sunday. TV on those days sucks, and the stores are too crowded to bother
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