Foxconn will invest $246 million to build a plant in northern Vietnam to produce electric vehicles and electronic equipment parts

Thanks to CTOnews.com netizens for the delivery of clues about the past. CTOnews.com, June 30 (Reuters)-the local government of Vietnam announced today that Foxconn has been approved to invest US $246 million (CTOnews.com Note: about 1.784 billion yuan) to build two new projects in Vietnam's Guangning Province, which will be undertaken by Foxconn's Singapore-based subsidiary. After the completion of this investment, Foxconn's total investment in Vietnam will increase to US $3 billion (currently about 21.75 billion yuan).

According to the local government of ▲ Touyuan Pexels, US $200m (currently about RMB 1.45 billion) of the new investment will be invested in a factory that produces chargers and parts for electric cars. Production is scheduled to start in January 2025 with an estimated staff of 1200.

The remaining $46 million (currently about 333 million yuan) will be invested in a factory that produces parts for electronic and communications equipment, which is scheduled to start production in October 2024. Both plants will be built in the Song Khoai industrial park in Guangning province, 138km east of Hanoi.

Foxconn could not be reached for comment.

Foxconn, which has been in Vietnam for nearly 20 years, also plans to open a new factory in Yi'an province in central Vietnam. The provincial local government said last month that the initial investment was $100m (currently about 725 million yuan).