Apple supplier Luxshare to invest additional US$330 million in Vietnam plant as supply chain diversification continues
- Vietnam plant will produce cables for smart devices, communications equipment, touch pens, smart positioning tags and smartwatches
- China-based Luxshare, one of the primary suppliers of Apple’s AirPod product, started investing in Vietnam in 2019
Apple supplier Luxshare Precision Industry Co has received approval to invest an additional US$330 million in a planned plant in Vietnam’s northern province of Bac Giang, as the US tech giant’s supply chain diversification away from China continues.
The additional amount raises the total plant investment to US$504 million, with the facility used to produce cables for smart devices, communications equipment, touch pens, smart positioning tags and smartwatches, Bac Giang authorities said in a statement dated Wednesday.
The new facility, under Luxshare’s arm in Vietnam, will be on a plot of over 70 acres and is expected to be completed in 12 to 24 months, the statement added.
China-based Luxshare, one of the primary suppliers of Apple’s AirPod product, started investing in Vietnam in 2019 and received approval for the first round of funding in its Bac Giang factory in August.
Foxconn, Apple’s largest supplier of iPhones, invested US$250 million in two new projects in Vietnam earlier this year, where it plans to ramp production of components for electric vehicles (EVs), telecommunications and other electronics.
