The project, implemented via Fukang Technology Co Ltd, will have a capacity of 8 million units per year.
Foxconn General Director Harry Zhuo said as of December 2020, the company had invested US$1.5 billion in Vietnam, including US$900 million in Bac Giang Province, creating jobs for 35,000 people.
The company is planning to inject an additional US$700 million in 2021 and create a further 10,000 jobs.
The Foxconn project is one of four projects given the greenlight by the Bac Giang authorities on January 18, with a total investment of US$570 million.
The other three are a US$210 million project to produce photovoltaic cells by Ja Solar, a US$75 million project by Risesun New Material to produce plastic and composite products, and a US$6 million project by Kodi New Material to manufacture decorative PVC films.
On behalf of investors, Harry Zhuo spoke highly of Bac Giang’s administrative reform efforts and pledged to carry out the projects in accordance with Vietnamese laws and the agreed schedule.
For his part, Bac Giang Chairman Le Anh Duong affirmed that the province will provide investors with the best technical infrastructure and services as well as dealing with the relevant administrative procedures effectively to facilitate investors as best as possible.