US To Be New Home For Apple, Inc. (AAPL) iPhone Production?
One of the primary pieces of Apple’s manufacturing chain is a company out of Taiwan named Foxconn. Foxconn has recently stated that it will open up a new research and development plant which will cost billions. The new plant will be located in Michigan, according to a report done on Sunday by the South China Morning Post.
Michigan is a state with large political importance for Donald Trump, as promises of new jobs in the state are now being affirmed by action. This is a large commitment by a multi-national corporation which will be a statement to the rest of the financial world with such a gargantuan corporation opening offices within the states.
The focus of the new Michigan facility will be on autonomous vehicles. Foxconn founder Terry Gou stated, “Automotive development in the U.S. is still more advanced than China. Besides self-driving technology, I’m also interested in artificial intelligence and deep learning technology.”
The news of a new R&D plant comes in front of Foxconn’s announcement two weeks prior regarding a new $10 billion dollar Wisconsin plant which is expected to create upwards of 3,000 jobs with the potential to reach around 13,000 jobs in the future.
A large part of Trump’s campaign was based on the premise of job creation. With such a large company opening two offices within the U.S., the potential for job creation reflects positively on the U.S. president. This comes after a rocky few weeks of news regarding possible collusion with the Russian government has led to less-than-stellar views on Trump. Many view the current state of the White House as in Chaos besides the issue of Russia.
With the 2016 election seeing both Michigan and Wisconsin go from historically democratic states, to backing the Republican candidate, their reasoning being job creation, this is exciting news for their vote.