The local administration announced that Foxconn (2354. TW), the world’s largest contract electronics producer and assembler, won approval from Vietnam to invest $246 million in two new projects in Quang Ninh.
The province administration claimed Foxconn Singapore would invest $3 billion in Vietnam to produce and assemble telecom and electric vehicle (EV) parts.
Foxconn did not confirm.
A $200 million EV charger and component facility with 1,200 employees will begin production in January 2025.
In October 2024, a $46 million factory will make electronics and telecommunication components. The Song Khoai Industrial Park, 138 kilometers east of Hanoi, will house both facilities.
Foxconn, which has operated in Vietnam for over 20 years, aims to build a $100 million factory in Nghe An, the provincial, local authorities stated last month.
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