SpaceX's supplier to invest additional US$30 million into Neweb Vietnam
(VOVWORLD) - Wistron Neweb of Taiwan, China, a supplier of SpaceX, will invest an additional US$30 million into its subsidiary Neweb Vietnam in Ha Nam province, according to the firm’s recent publication sent to the Taiwan Stock Exchange.
Wistron NeWeb revealed that the capital represents a long-term investment and will be used over several phases in line with Neweb Vietnam's plan. The project will be implemented in the Dong Van III Supporting Industrial Park. Neweb Vietnam was first established in mid-2020 with an initial investment capital of US$60 million. It started operating in August, 2021, with about 2,000 employees.
The factory’s production scale in the first phase includes 10 million smart home devices along with 10 million fixed wireless devices, an enterprise network, and infrastructure network devices. The production scale for the second phase will also be doubled.
SpaceX is the world's leading corporation in providing spacecraft, satellite launch services, and satellite communications.
Tim Hughes, Senior Vice President for Global Business and Government Affairs of SpaceX said that the corporation has planned to invest US$1.5 billion in Vietnam.