Foxconn to break US manufacturing promise?

January 30, 2019 //By Peter Clarke
Foxconn to break US manufacturing promise?
Taiwanese quipment manufacturing giant Hon Hai Precision Industry Co. Ltd., which trades as Foxconn, could be backing out of its promise to build a high-employment LCD factory in the state of Wisconsin, according to a Reuters report.

Back in 2017 Foxconn went on the record with recently installed President Trump to say it would spend $10 billion on a Wisconsin campus that would make advanced liquid crystal display panels and could eventually employ 13,000 people.

Reuters has reported that Foxconn now intends to make the facility at research hub and employ mostly engineers and researchers rather than the blue-collar workforce the project originally promised. Reuters now references Louis Woo, special assistant to Foxconn CEO Terry Gou, saying that plans may be scaled back or even shelved.

Reuters reported Woo saying that Foxconn could not make advanced televisions in the US because of the cost and that it would make more sense for them be made in China, Japan or Taiwan and then assembled in Mexico before being imported into the US.

"In terms of TV, we have no place in the US," Reuters quotes Woo saying. Instead the company wants to create a technology hub with packaging and assembly operations that can produce products for industrial, healthcare, and professional applications.

In terms of hiring Foxconn now expects to employ something like 1,000 workers by the end of 2020, the report said. It is unclear whether Foxconn will ever get to the 13,000 number previously touted

Related links and articles:

Reuters report

News articles:

Foxconn to build $10 billion LCD plant in Wisconsin

Foxconn plans to be a chip company

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