Trump cheers billions of dollars' worth of US investments from major auto companies
Wedbush managing director Dan Ives discusses Apple's decision to manufacture the new Mac Pro in America.
President Trump on Monday touted a host of new investments in the U.S. worth billions of dollars.
One of the investments is a $4 billion joint venture on behalf of Hyundai, Kia and Aptiv to develop autonomous driving technologies, which the president noted would bring a lot of “great jobs” back to America.
The companies said last week that the driving platform would be available for robotaxi providers and automotive manufacturers in 2022.
Additionally, Trump said Navistar, a leading manufacturer of trucks and buses, would be building a $250 million truck factory in San Antonio, Texas – bringing an additional 600 jobs.
Navistar recently announced plans to invest $125 million in the Huntsville, Alabama, engine plant.
Trump also mentioned – as previously reported by FOX Business – that tech giant Apple will build its new Mac Pro in Austin, Texas, after it was granted exemptions from tariffs to import parts from China.
“The Mac Pro is Apple’s most powerful computer ever and we’re proud to be building it in Austin,” Apple CEO Tim Cook said in a statement last week. “We thank the administration for their support enabling this opportunity.”