Apple Supplier Luxshare Ups Vietnam Investment by $330 Million

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Motorists ride up a ramp outside the Luxshare-ICT factory in Van Trung Industrial Park in Viet Yen District, Bac Giang province, Vietnam, on June 22. Photo: Bloomberg

(Bloomberg) — Apple Inc. supplier Luxshare Precision Industry Co. Ltd. is more than doubling its investment in Vietnam’s northern Bac Giang province to a half-billion dollars as the AirPods-maker and other gadget manufacturers further diversify manufacturing away from China.

The company is increasing its Bac Giang investment by $330 million to a total of $504 million through its Vietnam unit Luxshare-ICT, the province’s industrial zones authority said on its website.