Foxconn enters strategic partnership with Chihuahua
22 September 2023 15:17
Taiwan’s Hon Hai Technology Group – or Foxconn – is expanding in Mexico. The semiconductor giant announced a strategic partnership with the state government of Chihuahua on August 28 to expand tech skills, foster innovation, and promote sustainable energy and economic development in Mexico’s largest region.
“By combining expertise and resources, the effort is anticipated to drive positive change, shape the future of manufacturing, and contribute to the prosperity of Chihuahua and its residents,” said a Foxconn press release.
The announcement was part of the trend of “nearshoring,” or moving companies that might have been offshored to foreign countries closer to their markets. In this case, the new Foxconn venture in Chihuahua could serve the North American and Latin American markets.
Noting that Chihuahua hosts one of the largest complexes of maquiladoras, or tariff-free manufacturing zones, in Mexico, Foxconn said the partnership will optimize supply chains, foster infrastructure investment, and drive growth.
Developing talent is another important aspect of the partnership. Foxconn in particular will nurture the local Mexican talent pool for information and communications technologies as well as automotive manufacturing. The aim, the press release said, was to transform Chihuahua into a hub for “innovation-driven manufacturing.”
Lastly, Foxconn and the Chihuahua State Government plan on enhancing energy efficiency, developing renewable energy sources, and advancing sustainable power.
“This collaboration underscores our shared commitment to environmentally responsible practices and driving positive change for the business community in San Jerónimo and Juárez,” said the press release, referring to two booming towns on the US-Mexican border. ce/jd