Foxconn’s Failed Investments: A Look at Terry Gou’s Past promises and the Aborted Wisconsin Factory

Reporter Yang Junzong / comprehensive report

The founder of Hon Hai, Terry Gou, used to spend tens of billions of dollars, nearly NT$300 billion, to set up a factory in Wisconsin, the United States for his subsidiary Foxconn, but this grand plan could not be realized later. Including CNN and other American media, they also sorted out the history of Terry Gou’s past investment bounces, and promised to invest in Brazil, Indonesia, India and other countries, but after the big picture was drawn, they were not implemented. The total investment was as high as 1.02 trillion. However, Guo Taiming and Hon Hai Group did not respond in a low-key manner.

▲Trump and Guo Taiming have a close relationship.

Former US President Trump (2018.06): “I would like to thank Guo Taiming, the director of Foxconn is also my good friend.”

▲Trump has personally attended the groundbreaking ceremony of Foxconn in Wisconsin in the past.

Former U.S. President Trump personally attended the groundbreaking ceremony of Foxconn in Wisconsin for the first time five years ago, giving enough face to the then chairman of Hon Hai, Terry Gou.

Former US President Trump (2018.06): “This is the eighth wonder of the world.”

▲CNN takes stock of Guo Taiming’s investment history of bounced tickets.

Trump not only boasted of the friendship between the two, but also praised Genesis’s large investment. However, Foxconn’s super factory is now aborted, and CNN has detailed the past investment history of Terry Gou.

In 2011, Foxconn announced that it would invest 12 billion in Brazil, but its business scale was also reduced afterwards, so it stopped. In 2013, Foxconn announced that it would invest 30 million in Pennsylvania, the United States;

Maharashtra Chief Minister Farnavis (2015): “Foxconn will invest about 5 billion US dollars, and this will provide at least 50,000 jobs.”

In 2015, a bigger move was to invest 5 billion in India, but two years later, there was not even a shadow. In total, from 2007 to 2015, Guo Taiming’s commitments in various countries totaled as high as 33 billion U.S. dollars, and nearly 1.02 trillion Taiwan dollars have become duds.

American reporter: “What’s going on inside Foxconn? The local community has already spent hundreds of millions of dollars. Who fell into the trap?”

Not only CNN, but also other American media are also pursuing the inside story of Foxconn’s ticket skipping.

Terry Gou, founder of Hon Hai: “The job of Hon Hai is still for Chairman Liu Yangwei to answer, I am not good at answering.”

Hon Hai Group chose not to respond to the repeated accusations by the US media. Guo Taiming drew big cakes and wrote checks everywhere, shouting loudly, but now it has all come to nothing.