Tagged: factory

The latest development of Foxconn’s US factory

Foxconn has reached a new agreement with the state of Wisconsin to reduce the size of its plant after several years of delay in the construction plan.

 

The deal is expected to allow Foxconn to reduce the size of its unfinished plants and the tax incentives offered by the state government, according to a joint announcement by Foxconn parent Hon Hai (8.66, – 0.07, – 0.74%) group and Wisconsin governor Tony Evers on Monday. The agreement remains to be approved by the Wisconsin Center for economic development, the state’s top business administration, which will hold a meeting on Tuesday to vote on the issue.

 

The project has been controversial since it was announced in 2017. Foxconn had planned to invest $10 billion, but so far it has fallen far behind the original plan. Foxconn has also attracted criticism from US politicians for receiving huge economic rewards from the local government.

Hyundai Yashan factory

Hyundai Motor (48.55, – 0.45, – 0.92%) plans to suspend production at its Yashan plant for two days starting next Monday due to a shortage of chips, according to insiders.

Hyundai Yashan factory

Earlier, Hyundai had adjusted its production by reducing overtime work in factories, and suspended production of IONIQ 5 and Kona models from April 7 to April 14.

 

The company’s Yashan plant produces about 300000 cars a year, including Sonata and grandeur cars

Chip factory production is close to full recovery

A spokesman for Samsung Electronics (208.25, 0.00, 0.00%) said on Tuesday that as of last week, output at its Austin, Texas, chip plant was close to normal.

 

The plant has been shut down for more than a month due to the cold wave in the United States on February 16, which is the first time in Samsung’s history that its production line has been shut down for more than a month, with an estimated loss of 400 billion won (about $355 million).

 

Samsung Austin factory mainly produces it equipment semiconductor products and communication semiconductor products based on 14-65nm process, such as mobile AP, high-performance solid state hard disk (SSD) controller, display driver IC, etc.