Foxconn’s bluff in the US: dream of $10 billion max investment is officially gone

Foxconn will invest $10 billion and create tens of thousands of jobs. In the end, nothing happens.

Investment of Foxconn Strongly favored by a former president in the United States Donald Trump It will not be done. Six years ago, the Taiwanese company, known as Apple’s main partner, announced a major investment of $10 billion in the United States, which would have led to the opening of some factories and the creation of more than 13,000 jobs.

“This investment would never have been possible if I hadn’t been elected president,” Trump said, armed with a sober gold shovel as he attended the groundbreaking ceremony for what would become the first Foxconn factory in the United States. In the states. It was 2018Now, six years later, it is now clear that absolutely nothing will be done with that monumental project.

Foxconn is looking to sell both assets Eau-Claire And Green Bay. In 2018 he bought them for 12 million dollars. In Green Bay, Colossus acquired a magnificent building, however, it actually occupied only three of the six floors. Instead, the Eau Claire area has remained empty all these years.

The original plan was to create a few innovation centers where Foxconn would handle the design of panels, circuits and other components for consumer electronics products sold around the world. An important LCD screen production center in factories.

Already in 2021, Foxconn partially backtracked on its word, reducing the investment by several orders of magnitude: from 10 billion dollars to ‘just’ 672 million dollars. From 13,000 new jobs to only 1454 posts. In short, despite the great dream, the setback must be adapted Globalization In the western manufacturing sector.

At the end of Foxconn’s plans, it seems there is nothing. Components of the products we use every day will continue to be manufactured in Asia: not just in China, but soon in India as well.