SpaceX’s supplier to inject additional US$30 million into Vietnam
VOV.VN - Taiwanese company Wistron NeWeb, a supplier of SpaceX, will invest an additional US$30 million into its subsidiary Neweb Vietnam in the northern province of Ha Nam, according to the firm’s recent publication sent to the Taiwan Stock Exchange (TWSE).
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, adding that they will make use of their own capital and bank loans.
According to the parent company Wistron NeWeb, the production activities at its subsidiary in Vietnam are satellite and mobile communication equipment. The project will be implemented in the Dong Van III Supporting Industrial Park which spans an area of 11.3 hectares.
Neweb Vietnam was first established in mid-2020 with an initial investment capital of US$60 million. The company then 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.
In September 2024, Tim Hughes, Senior Vice President for Global Business and Government Affairs of SpaceX stated that the corporation has planned to invest US$1.5 billion in Vietnam during a meeting with Party General Secretary To Lam in New York.
Taiwanese investment fuels high-tech Vietnamese industry
VOV.VN - More advanced manufacturing from Taiwan (China) will migrate to the Vietnamese market over the coming decades as the country is rapidly becoming known as a prime destination for Taiwanese investment, according to HSBC experts.
