Foxconn reduced factory won’t qualify for tax credits without new deal, Wisconsin says

MADISON, Wis. — Wisconsin told Foxconn Technology Group on Monday that it won’t qualify for billions of dollars in state tax credits unless it strikes a new deal for a scaled-back factory complex.

State officials have told Foxconn since last year that it would not qualify for the tax credits without revisions to its 2017 contract because the scope of the envisioned factory has been reduced. President Donald Trump heralded the original deal as a sign of a revitalized American manufacturing economy, calling the envisioned plant “transformational” and the “eighth wonder of the world.”

The deal with Foxconn, the world’s largest electronics manufacturer, was announced by Trump at a White House ceremony and he traveled to Wisconsin in 2018 for the groundbreaking.

Foxconn signed a contract with Wisconsin under then-Gov. Scott Walker in 2017 to earn nearly $4 billion in state and local tax incentives for a $10 billion display

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Wisconsin tells Foxconn no tax credits without new deal

Wisconsin has told Foxconn Technology Group that it won’t qualify for billions of dollars in state tax credits unless it strikes a new deal for a scaled-back factory complex

MADISON, Wis. — Wisconsin told Foxconn Technology Group on Monday that it won’t qualify for billions of dollars in state tax credits unless it strikes a new deal for a scaled-back factory complex.

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Apple Contractor Foxconn Pushes Further Into Electric Vehicle Production

Foxconn Technology, the world’s biggest contract assembler of consumer electronics and main assembler of Apple products, says it has joined forces with a fellow Taiwanese hardware firm to delve further into electric vehicle production as the global market is set to grow.

The assembler founded by one of Taiwan’s richest people, billionaire Terry Gou, formed a “strategic alliance” with Yageo Group, Foxconn announced last week. The alliance will advance Foxconn’s fledgling electric vehicle business by sharing Yageo’s years of experience in EV components along with its knowhow in 5G technology and semiconductor packaging, the statement says.

“Through the cooperation with Hon Hai Group, we are able to enlarge mutual technological benefits and resource sharing to maximize the value of both groups and see multiple growths in the

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