Taiwan's Hon Hai Precision Industry Co. Ltd., or Foxconn Technology Group, is planning another multibillion-dollar investment in the U.S., the South China Morning Post reported Aug. 6.

According to Foxconn founder Terry Gou, the new investment will be used to build a research and development facility for autonomous vehicles in Michigan.

The news comes after U.S. President Donald Trump said that Foxconn is considering investing up to $30 billion in the U.S. and nearly two weeks after the company announced a $10 billion Wisconsin plant that's expected to create up to 13,000 jobs.