Electronics manufacturing giant Foxconn revealed it's mulling a joint investment with Apple to build a highly-automated $7 billion display factory in the US. Chairman Terry Gou said the increase in demand for larger display panels makes local production a better solution than shipping from China to the US market:
"Apple is willing to invest in the facility together because they need the [panels] as well," Gou told reporters after the company's annual year-end party in the Nankang district of Taipei. The U.S. production site eventually would create 30,000 to 50,000 jobs, the Taiwanese tycoon said.
Foxconn is in talks with several states in the US but it seems a lot hinges on government incentives. For example, Foxconn wants cheap land as well as cheap electricity. At the moment, Pennsylvania is said to be ahead to secure a deal.
Commenting on the new US president, Gou said the rise of protectionism is inevitable but he questioned whether Americans would be willing to pay significantly more for consumer goods that are produced locally.
Full details at Nikkei Asian Review.