The chairman of Taiwanese electronics giant Foxconn Technology Group, Terry Gou, said Thursday his company may spend more than $10 billion to set up manufacturing in the United States and will announce investment plans by early August for at least three states.
Foxconn is Apple's major supplier for iPhone display panel components. Foxconn also supplies products for devices made by Sony, Blackberry, and other smartphone and computer manufacturers.
According to Crains Chicago Business, the company plans to develop operations in the U.S. that combine hardware manufacturing and software development in technologies including artificial intelligence and automation. In a meeting with shareholders, Gou said Foxconn could invest more than $10 billion in the U.S. during a five-year plan.
States under consideration are Illinois, Ohio, Pennsylvania, Michigan, Wisconsin, Indiana and Texas. The U.S. currently does not have a display panel manufacturing plant of its own.