Apple Supplier Foxconn in Talks with Saudi Arabia on Factory Proposal - Bloomberg
Apple Inc. supplier Foxconn Technology Group is talking with the government of Saudi Arabia about constructing a $9 billion factory in the kingdom, the Wall Street Journal reported on Monday.
A proposal for the factory’s construction in Neom -- Saudi Arabia’s new tech-driven city that’s being developed in the desert-- is currently under the government’s review, according to the report. The facility would produce technology like microchips, electric vehicle components and other electronic components.
Taiwan-based Foxconn, also known as Hon Hai Precision Industry Co., has been seeking new manufacturing sites amid increased U.S.-China tensions. The company is also in talks with the United Arab Emirates about building the factory there, according to the Journal.
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