Foxconn issued a statement this week about its plans to manufacture automotive controls, networking products & servers at its Wisconsin factory. This information was as per a report that appeared in Nikkei.
Although the plant is not yet operational fully, it was originally meant for manufacturing next-gen LCD displays used for products like televisions and others.
This announcement was made during its investor day, held for the very first time. This comes after a controversy at its $10 billion Wisconsin plant. This plant has been heavily subsidized since it is currently creating over 13000 jobs, by the government via its programs. However, residents are of the opinion that too much money is being spent on subsidizing the factory.
This is an indicator of how Foxconn, which is among electronics manufacturing global leaders, with Sony, Apple, and other tech companies as its clients, is currently handling the US-China trade war. Tariffs are likely to be imposed further on China, making all goods produced and imported from there making them expensive. Major companies are already taking steps that would shield them from any impact this may have on their earnings. The plant at Wisconsin is gearing up to manufacture products for different vertical industries, said an official from Foxconn, to CNBC.
Jay Lee of FII stated that products manufactured at the plant are not restricted to any single product. Commercial TVs that measure around 65 inches will also be produced at the plant. Jay Lee is the current vice chairman for FII’s BOD. Since the plant can make multiple LCD sizes, these products can be used in many industries, ranging from security to medicine, healthcare, entertainment, education, automotive sector, and other smart city usages, he stated.
The company has also stated that its current production capacity in non-China locations is sufficient to supply Apple with its requirements, should the China-USA trade war begin to show repercussions on iPhone production, as per the report from Nikkei.
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