HANOI, Nov 10 (Reuters) - Apple (AAPL.O) supplier Luxshare Precision Industry Co (002475.SZ) has been awarded a license to invest an additional $330 million in its plant in Vietnam's northern province of Bac Giang, raising the total investment to $504 million, provincial authorities said.
The facility is expected to be completed in 12 to 24 months, it added.
China-based Luxshare, one of Apple's main AirPods makers, started investing in Vietnam since 2019.
Its additional investment in the country comes as other manufacturers seek to further diversify production away from China.
Earlier this year, another Apple supplier, Foxconn, set up a new factory in central Vietnam and raised its investment in the country by $250 million to make electric vehicles and telecom parts.
Persons:
Luxshare, Phuong Nguyen, Lincoln
Organizations:
Luxshare Precision Industry, Apple, Thomson
Locations:
HANOI, Bac Giang, Vietnam, Bac, China