Apple supplier Quanta pours $120M into Vietnam factory to try to catch MacBook orders
Quanta has become the latest Apple supplier to heavily invest in production in Vietnam, agreeing with a provincial government to build a $120 million plant facility.
An M2 14-inch MacBook Pro
In December, reports claimed Apple was preparing to move some MacBook Pro production to Vietnam. After moves by Foxconn and BOE for their own manufacturing efforts, Quanta is joining the rest of the pack with its own initiative.
Quanta signed an agreement with the authorities of Nam Dinh province on Friday, reports Reuters to set up the factory in northern Vietnam. The project, which is expected to cost $120 million, will be built in the My Thuan Industrial Park, occupying 22.5 hectares of land.
Details about when the factory will expect to open, as well as the potential production lines, were not announced as part of the signing or a governmental statement. Considering Apple's wish to expand Vietnamese production, as well as other supply chain members efforts, it seems highly likely that it will be used for Apple production purposes.
After announcing a $300 million investment in North Vietnam in August 2022, Foxconn signed a new lease in February 2023, renting a plot of 111 acres for approximately $62.5 million until 2057.
Meanwhile in January, display maker BOE was working to rent dozens of hectares of land as part of a $400 million investment.
The newly signed-for facility will be the ninth factory for Quanta in the world.
Read on AppleInsider
An M2 14-inch MacBook Pro
In December, reports claimed Apple was preparing to move some MacBook Pro production to Vietnam. After moves by Foxconn and BOE for their own manufacturing efforts, Quanta is joining the rest of the pack with its own initiative.
Quanta signed an agreement with the authorities of Nam Dinh province on Friday, reports Reuters to set up the factory in northern Vietnam. The project, which is expected to cost $120 million, will be built in the My Thuan Industrial Park, occupying 22.5 hectares of land.
Details about when the factory will expect to open, as well as the potential production lines, were not announced as part of the signing or a governmental statement. Considering Apple's wish to expand Vietnamese production, as well as other supply chain members efforts, it seems highly likely that it will be used for Apple production purposes.
After announcing a $300 million investment in North Vietnam in August 2022, Foxconn signed a new lease in February 2023, renting a plot of 111 acres for approximately $62.5 million until 2057.
Meanwhile in January, display maker BOE was working to rent dozens of hectares of land as part of a $400 million investment.
The newly signed-for facility will be the ninth factory for Quanta in the world.
Read on AppleInsider
Comments
The reason why this is bad is because they are an Authoritarian country, and not a Democracy. If the UK or France were the dominate world power, then I wouldn’t be so worried. But China as the world power is very worrisome in my opinion. I feel like we made a huge mistake in building up China. Whether or not a country is Communist or Capitalist isn’t so important in my opinion. I don’t know why that would matter. What matters to me is whether the country is Authoritarian or a Democracy.
Political leaders in both Russia and China want their countries to stop buying US, UK and EU technology (think Microsoft, Apple, Google, GE, RTX, Rolls Royce, Boeing, Airbus, Dell and HP) over the next few years, and replace it with home grown alternatives. It is my understanding they have started the phase-out with government entities. I understand that China and the Saudis are now trading oil outside of the former dollar exchange method. Oil sales from Russia to China have also ditched the petrodollar system.