Luxshare Precision Industry Co, a key Apple supplier, has obtained approval to invest an extra $330 million in its facility in Bac Giang, northern Vietnam, bringing the total investment to $504 million. The new plant, situated on a 29.1-hectare plot, will focus on producing cables for smart devices, communications equipment, touch pens, smart positioning tags, and smartwatches. Luxshare’s investment expansion aligns with a trend among manufacturers, including Apple suppliers like Foxconn, to diversify production beyond China. The facility is expected to be completed within 12 to 24 months, further solidifying Luxshare’s presence in Vietnam since its initial investment in 2019.