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Benzinga
Benzinga
Technology
Rachit Vats

This Apple Supplier Is Said To Be Planning A $9B Factory In Saudi Arabia To Make Chips, EV Parts

Saudi Arabia Apple Foxconn Hon Hai Hon Hai Precision Industry Co Ltd

Apple Inc (NASDAQ: AAPL) supplier Hon Hai Precision Industry Co Ltd’s (OTC: HNHPF) is in talks with Saudi Arabia to jointly build a $9 billion multipurpose facility, The Wall Street Journal reported on Monday, citing people familiar with the matter.

What Happened: The Taiwan-based supplier, better known as Foxconn, could make microchips, electric-vehicle components, and other electronics like displays at the mega factory, according to WSJ.

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