iPhone manufacturer Hon Hai Precision Industry Co, also known as Foxconn, is planning several investments in the United States, its Chairman Terry Gou said as he exited the White House on Friday.

Reuters cautioned that Foxconn has yet to finalize any plans, but it could be easily looking to build expensive factories in the U.S. and invest in other capital-intensive projects.

“We are planning a number of investments in America,” Gou told reporters today.

He added that Foxconn’s upcoming U.S. projects could include both capital and skilled labor-intensive investment as well as a high-tech investment.

The company said in a statement:

We can confirm that we are engaged in discussions with officials at various levels of government regarding our ongoing plans to significantly increase our investments in the United States.

The Taiwan-based company operates large manufacturing facilities in China, where it assembles iPhones, employing about a million people in the country.

Foxconn has been mulling U.S. investments for some time in response to U.S. President Donald Trump’s “Make in America” call, including a highly-automated $7 billion plant that would churn out OLED panels for iPhones, costing north of $7 billion.

Foxconn has not finalized its plans, however.

“We’re still not final yet,” Gou said, promising to share numbers with the media in a few weeks.

Source: Reuters

  • Woz A Nater

    Thank you Donald Trump!