Key Apple Partners Plan Expansion in Southeast Asia in 2023

$Apple(AAPL.US)$ partners Foxconn Technology Group and Pegatron Corp. included Southeast Asia in their expansion plans for 2023, in a sign major global contract electronics manufacturers will continue to add production capacity outside China to mitigate geopolitical and economic risks.
Separately, Foxconn’s smaller rival Pegatron will allocate $300 million to $350 million this year to capital expenditure, partly to grow capacity in Southeast Asia and increase automotive component production in Mexico, company executives told reporters in Taipei on Sunday. Pegatron is also a $Tesla(TSLA.US)$ supplier.
In addition to producing iPhones in China, both Foxconn and Pegatron now make some of Apple’s iconic handsets in India. Apple is also turning to Vietnam as an alternative manufacturing base for other products including AirPods.
$Nasdaq Composite Index(.IXIC.US)$ $Foxconn Concept(BK1179.HK)$