Taiwan-based electronics manufacturers Foxconn and Pegatron are among companies eyeing new factories in Mexico, people with direct knowledge of ...
HONG KONG/TAIPEI/MEXICO CITY: Taiwan-based electronics manufacturers Foxconn and Pegatron are among companies eyeing new factories in Mexico, people with direct knowledge of the matter said, as the U.S.-China trade war and coronavirus pandemic prompt firms to reexamine global supply chains.
Foxconn has five factories in Mexico mainly making televisions and servers. Its possible expansion would underscore a broader and gradual shift of global supply chains away from China amid a Sino-U.S. trade war and the coronavirus crisis. Taipei-headquartered Foxconn, formally called Hon Hai Precision Industry Co Ltd, said in a statement that while it continued to expand global operations and is an"active investor" in Mexico, it had no current plans to increase those investments.
Foxconn unit Sharp has said it is stepping up television production in Mexico. Sharp last year said it would set up a plant in Vietnam to shift part of its China production. It said it had no further information to give. "Pegatron, I also understand, wants to move a production line from China to Mexico," the office's Director General Armando Cheng told Reuters. He said he did not know details of either company's plans.
Additionally, the newly implemented United States-Mexico-Canada trade deal requires more locally sourced inputs for tariff-free exports to the United States.
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