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Apple Production Partner Foxconn to Build New $270 Million Plant in Vietnam

Apple Production Partner Foxconn to Build New $270 Million Plant in Vietnam

Major Apple production partner Foxconn has been given the official governmental okay to build a new $270 million plant in Vietnam to manufacture tablets and laptops, says a Reuters report. The plant will likely manufacture iPads and MacBooks for Apple.

The plant, to be developed by Fukang Technology, will be located in the northern province of Bac Giang. It will annually produce eight million units, the government said in a statement on its website.

In November 2020, Apple urged Foxconn to move some of its iPad and MacBook assembly work away from China to Vietnam. The Cupertino firm is working to diversify its supply chain away from being concentrated in China.

Foxconn has so far invested $1.5 billion in Vietnam and plans to raise its investment by $700 million and recruit 10,000 more local workers this year. Foxconn is also reportedly looking into investing $1.3 billion in Thanh Hoa province, 160 km (99.42 miles) south of Hanoi.

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