Apple supplier Foxconn has been granted license to build $270 million plant in Vietnam

Foxconn is Apple’s one of largest manufacturing partners and as per the request of Apple, the company is planning to shift its iPad and MacBook manufacturing plant from China to Vietnam as an impact of the China-US tension.

According to the latest news, Foxconn has recently been granted a license from the Vietnam government to build a $270 million plant in the country. With this investment, the company is likely to manufacture iPads and MacBooks as Apple wants to diversify the production.

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The development of the new plant will be carried by Fukang Technology and the location will be the North Vietnamese province of Bac Giang. After the completion of the project, the factory is expected to produce over eight million laptops and tablets every year.

Till now Foxconn has invested approximately $1.5 billion in Vietnam and further it plans to raise the investment by $700 million. Also, it will need around 10000 local workers this year that will increase the employment opportunity in the country.

As per the previous reports, Apple will introduce a number of new gadgets this year including the AirTags and some AR-based devices. Meanwhile, there are also some rumors that the US tech giant is working on a mini LED display for its upcoming iPad and MacBooks.