{"id":232456,"date":"2021-04-21T20:50:35","date_gmt":"2021-04-21T17:50:35","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/foxconn-drastically-downsizes-plans-for-wisconsin-facility\/"},"modified":"2021-04-21T20:50:35","modified_gmt":"2021-04-21T17:50:35","slug":"foxconn-drastically-downsizes-plans-for-wisconsin-facility","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/foxconn-drastically-downsizes-plans-for-wisconsin-facility\/","title":{"rendered":"#Foxconn drastically downsizes plans for Wisconsin facility"},"content":{"rendered":"

“#Foxconn drastically downsizes plans for Wisconsin facility<\/strong>”<\/p>\n

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Foxconn \u2014 the Taiwan-based manufacturing giant that cranks out App<\/a>le\u2019s iPhones among other popular gadgets \u2014 is drastically scaling back a planned $10 billion factory in Wisconsin.<\/p>\n

Under a deal with the state of Wisconsin announced on Tuesday, Foxconn will slash its planned investment in the facility \u2014 which former President Donald Trump once called \u201cthe eighth wonder of the world\u201d \u2014 to $672 million from $10 billion and cut the number of new jobs to 1,454 from 13,000.<\/p>\n

The Foxconn-Wisconsin deal was first announced to great fanfare at the White House in July 2017, with Trump boasting of it as an example of how his \u201cAmerica First\u201d agenda could revive US tech manufacturing.<\/p>\n

For Foxconn, the investment promise was an opportunity for its charismatic founder and then-chairman, Terry Gou, to build goodwill at a moment when Trump\u2019s trade policies threatened the company\u2019s cash cow: building Apple\u2019s iPhones in China for export to America.<\/p>\n

Foxconn, the world\u2019s largest contract manufacturer of electronic devices, proposed a 20-million-square-foot manufacturing campus in Wisconsin that would have been the largest investment in US history for a new location by a foreign-based company.<\/p>\n

It was supposed to build cutting-edge flat-panel display screens for TVs and other devices and instantly establish Wisconsin as a destination for tech firms.<\/p>\n

\n
\"Then
Then President Donald Trump (center) with Foxconn CEO Terry Gou (right) and then Wisconsin Gov. Scott Walker at the 2018 groundbreaking of a Foxconn plant in Wisconsin. <\/figcaption>
Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n

But industry executives, including some at Foxconn, were highly skeptical of the plan from the start, pointing out that none of the crucial suppliers needed for flat-panel display production were located anywhere near Wisconsin.<\/p>\n

The plan faced local opposition too, with critics denouncing a taxpayer giveaway to a foreign company and provisions of the deal that granted extensive water rights and allowed for the acquisition and demolition of houses through eminent domain.<\/p>\n

\"A
A shovel set in place before the 2018 groundbreaking ceremony of a Foxconn plant in Wisconsin. Foxconn now says it\u2019s scaling back its plans.<\/figcaption>
NurPhoto via Getty Images<\/span><\/figcaption><\/figure>\n

As of 2019, the village where the plant is located had paid just over $152 million for 132 properties to make way for Foxconn, plus $7.9 million in relocation costs, according to village records obtained by Wisconsin Public Radio and analyzed by Wisconsin Watch.<\/p>\n

Foxconn, formally called Hon Hai Precision, said the new agreement gives it \u201cflexibility to pursue business opportunities in response to changing global market conditions.\u201d The company said: \u201cOriginal projections used during negotiations in 2017 have at this time changed due to unanticipated market fluctuations.\u201d<\/p>\n

After abandoning its plans for advanced displays, Foxconn later said it would build smaller, earlier-generation displays in Wisconsin, but that plan never came to fruition either.<\/p>\n

\"Foxconn
=Foxconn chairman Liu Young-way says that electric vehicles have a \u2018promising future\u2019 at the facility.<\/figcaption>
REUTERS<\/span><\/figcaption><\/figure>\n

Prior to Tuesday\u2019s announcement, Foxconn Chairman Liu Young-way told reporters in Taipei that the company currently makes servers, communications technology<\/a> products and medical devices in Wisconsin, adding that electric vehicles (EVs) have a \u201cpromising future\u201d there. He did not elaborate.<\/p>\n

Liu had previously said the infrastructure was there in Wisconsin to make EVs because of its proximity to the traditional heartland of U.S. automaking, but the company also could decide on Mexico.<\/p>\n

Hon Hai shares fell as much as 1.6% on Wednesday morning, underperforming the broader Taiwan market which was down 0.7 percent.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Foxconn drastically downsizes plans for Wisconsin facility” Foxconn \u2014 the Taiwan-based manufacturing giant that cranks out Apple\u2019s iPhones among other popular gadgets \u2014 is drastically scaling back a planned $10 billion factory in Wisconsin. Under a deal with the state of Wisconsin announced on Tuesday, Foxconn will slash its planned investment in the facility \u2014…<\/p>\n","protected":false},"author":1,"featured_media":232457,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/04\/FoxConn.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[102877,5029,4941,5030,73760,70640],"class_list":["post-232456","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-4-21-21","tag-apple","tag-donald-trump","tag-iphone","tag-manufacturing","tag-wisconsin"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/232456","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=232456"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/232456\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/232457"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=232456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=232456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=232456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}