Reuters is reporting that Foxconn, one of Apple’s main manufacturing partners, is prepping to invest up to $12 billion to build new manufacturing plants in Brazil. This move is reportedly intended to be a work around of that country’s high import taxes of products coming in from other countries. If the product is made there, there is no import tax (duh).
Anyway, here’s an excerpt:
The Brazilian government is studying Foxconn’s investment plan, President Dilma Rousseff told reporters during a visit to Beijing, where she is meeting with Chinese President Hu Jintao.
“You’ve got an ample range of investments that go from $300 to $400 million to $12 billion over 5 to 6 years in the case of Foxconn,” Rousseff said, speaking of discussions Brazil’s government is having with various technology companies.
“They’re proposing a partnership. They came to us and said we want to invest in Brazil.”
Report also cites Aloizio Mercadente, Brazil’s science and technology minister, that Foxconn is preparing to manufacture iPads in that country by November. You were beginning to wonder where Apple fit into this weren’t you?
So, Foxconn a Chinese company is looking to open plants in Brazil, to help pump out more iPads. Amongst other things no doubt.
[UPDATE] As was pointed out in the comments. Foxconn is a Taiwanese company, and not a Chinese company as I reported. We regret the error.
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