FoxconnSource: Bloomberg

What you need to know

  • Foxconn has been promising to build a factory in Wisconsin.
  • It again says that it will be ready this year.
  • This time it's from founder Terry Gou.

Foxconn founder Terry Gou seems to be of the opinion that his company will indeed have a factory up and running in Wisconsin by the end of the year, according to a Bloomberg report.

Gou promised to have the plant operational at some point in 2020, something that seems impossible given the fact that while the land has been cleared for the factory, building is yet to commence.

Foxconn's Terry Gou pledged to begin production at a long-delayed electronics plant in Wisconsin sometime this year, kick-starting a signature U.S. project that's expected to play a pivotal role in expanding the billionaire's manufacturing empire.

The Foxconn founder said the factory will be up and running in 2020 and drive his company's vision of manufacturing components for fifth-generation wireless and artificial intelligence applications, without elaborating. Gou, who failed in his bid to contest the Taiwanese presidential elections, added he will spend a lot of time in the US this year and intends to send more employees over.

"I hope many Hon Hai colleagues will go work in the US to help America boost manufacturing and build a supply chain," Gou told employees at his company's new year's party in Taipei.

If that doesn't fill you with confidence, you're not alone. We've already seen the promised 13,000 jobs reduced to just 1,500 and at this point Foxconn hasn't managed that yet, either.