Apple announced a $500m cash infusion Wednesday for the US manufacturing, distribution and technology operations of its products, marking a substantial infusion for a company that has long been plagued by problems with supply chain issues.
Apple said in a news release that the $500million would go towards helping companies with manufacturing needs that would benefit consumers, including in the US, Canada, Europe, China and the Middle East.
“Our goal is to build a more secure and reliable ecosystem for consumers by providing them with a level playing field in terms of choice and choice, availability, and cost,” the statement said.
Apple also announced it would be opening up new manufacturing and logistics hubs in China, India, Mexico and Vietnam, as well as building a new factory in the Netherlands.
Earlier this year, the company announced plans to close an undisclosed factory in China and move production to an unnamed facility in the United States.