Apple Supplier Foxconn to Build $270 Million Plant in Vietnam, Likely for MacBook and iPad

Apple supplier Foxconn has been granted a license to construct a new $270 million plant in Vietnam, likely to manufacture MacBooks and iPads (via Reuters).

The new plant, to be developed by Fukang Technology, will be located in the northern Vietnamese province of Bac Giang. Upon completion, the location is projected to be able to produce eight million laptops and tablets annually.

Foxconn is one of Apple's largest manufacturing partners. In November last year, Apple urged Foxconn to move some of its iPad and MacBook assembly from China to Vietnam as the company seeks to diversify its supply chains away from concentration in China. It therefore seems highly likely that these laptops and tablets are in fact MacBooks and iPads to supply Apple.

Foxconn has reportedly invested $1.5 billion in Vietnam so far, and plans to raise its investment by a further $700 million and recruit 10,000 additional local workers this year. Foxconn is also said to be considering another $1.3 billion investment for facilities in Thanh Hoa province.

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