Apple assembler Luxshare to invest $330 million more in northern Vietnam

Apple assembler Luxshare Precision Industry Co. has been awarded a license to invest an additional $330 million in its plant in Bac Giang, Vietnam, increasing its total investment in the country to $504 million so far.
Reuters:
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The new facility at Luxshare-ICT, Luxshare’s arm in Vietnam, will be on a plot of 29.1 hectares (72 acres) and will produce cables for smart devices, communications equipment, touch pens, smart positioning tags and smartwatches, Bac Giang authorities said in a statement dated Wednesday.
The facility is expected to be completed in 12 to 24 months, it added.
China-based Luxshare, one of Apple’s main AirPods makers, started investing in Vietnam since 2019. Its additional investment in the country comes as other manufacturers seek to further diversify production away from China.

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MacDailyNews Take: In February, Apple’s main assembler Foxconn secured an 111-acre site in Vietnam as it continues to diversify production away from CCP-controlled China.
The quicker that alternatives to China can be up and running, the better.
It’s smart for both Apple and Foxconn to diversify assembly outside of China. There’s no sense having all of your eggs in one basket. — MacDailyNews, April 2, 2019
Apple cannot divest their dependence on China quickly enough (because they started years too late). – MacDailyNews. August 17, 2022
Diversify, diversify, diversify – especially away from CCP-controlled China. – MacDailyNews, October 19, 2022
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