WisBusiness: Foxconn official suggests company’s $10 billion investment will grow

WisBusiness: Foxconn official suggests company’s $10 billion investment will grow

Foxconn’s director of U.S. initiatives, Alan Yeung, suggests the company’s initial $10 billion investment in Racine County will grow.

He said yesterday the company’s planned $10 billion investment is going into just “a fraction” of the 128 million square-foot Mount Pleasant development.

“It’s probably going to take more than $10 billion in terms of investment,” he said yesterday at the Wisconsin Idea Smart Future Summit at UW-Parkside in Kenosha.

“The $10 billion is going into a fraction of the landmass that we show,” he said. “How much more it’s going to take, we’ll tell in due course.”

After formally announcing more details of Foxconn’s “Smart Cities, Smart Futures” competition, Yeung also hinted that Foxconn is looking at the solar energy industry for opportunities.

He also said solar energy and renewable energy in general “is something of interest to us,” pointing out that the per-module cost for solar panels has dropped significantly several times in the past 40 years or so.

Citing industry data from between 1976 and 1985, Yeung says the cost dropped by 90 percent in that period. Read the full story here.