Gou’s withdrawal gives the two candidates from the main parties a clearer run in the election. Tsai leads with 49% of support, compared with 42% for Han, according to a survey released by TVBS last week.
Liu Young, 63, is also a board member of Foxconn's Japanese electronics unit Sharp Corp. The nomination would come after Gou, 68, told Reuters in April he planned to step down as chairman of the Apple Inc supplier so younger talent could move up the ranks.
The bill approved on a bipartisan 64-31 vote would make $2.85 billion available to Foxconn Technology Group in cash payments if it invests $10 billion and hires 13,000 workers. The Wisconsin Senate approved the proposal Tuesday.