Foxconn to Invest 5 Billion Yuan in Its Shanxi Factories
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Foxconn Technology Group will invest at least 5 billion yuan ($814 million) into its factories in northern China’s Shanxi province amid the world’s largest contract electronics manufacturer’s push into electric vehicles.
Chairman Terry Gou expects the company’s Shanxi workforce to reach 100,000 this year with annual output surpassing 60 billion yuan, Taipei-based Foxconn said in a statement, citing a speech delivered by Gou in Shanxi’s Taiyuan city today. The company didn’t provide further details on the investment.