FOXCONN JV
Tata Electronics begins export of semiconductor chip samples from Bengaluru centre
Tata Electronics, a company based in Bengaluru, India, has begun exporting small amounts of semiconductor chips. This is a significant step that could improve India's ability to produce these important components. The chips are being packaged at a pilot production line located at Tata Electronics' research and development center. This information comes from people with knowledge of the situation but who do not want to be identified publicly.
Pack a punch before we get fab at chips
Tatas could make up for India's initial missteps over semiconductor manufacturing. GoI rolled out incentives for chip-making when the need to diversify this concentrated value chain became evident to policymakers globally.
Big-ticket funding deals in focus; Good Glamm's JV with Serena Williams
Industry executives view this as a notable uptick after the prolonged downturn in funding for technology ventures in India since 2021. While there is a considerable revival in large-size deals, the interest is largely in select good assets which have withstood post-pandemic challenges and continued to grow despite cutting down burn.
Pine Labs, Zepto, Meesho press the home button; decoding UPI’s market share cap
Happy Wednesday! A wave of Indian technology startups, including Pine Labs and Zepto, are actively working on plans to shift their domiciles to India. This and more in today’s ETtech Morning Dispatch.
Govt spots missing bits in HCL, Foxconn chip JV, seeks details
Wants info on OSAT unit, tech partner and technology transfer deal between the partners.
Tower's plan for first Indian chip foundry likely to get nod today
Tower's Indian chip foundry project is pegged at $9-10 billion, of which 50% will be subsidised by the Centre under the Indian Semiconductor Mission (ISM). States provide an additional 15-25% subsidy.
- Go To Page 1
Foxconn’s India unit to spend Rs 1200 crore to build additional facility
In November, ET had reported that Foxconn said it would invest more than $1.5 billion in an Indian construction project to fulfil the Apple supplier's "operational needs”. The investment was made through a Foxconn subsidiary, Hon Hai Technology India Mega Development.
Foxconn CEO Young Liu honoured with Padma Bhushan
Foxconn is the world's largest electronics manufacturer and a leading global science and technology solutions provider. As per Foxconn's official website, Liu is a recognised entrepreneur and innovator with over four decades of industry experience.
Foxconn-HCL semiconductor pact; most valuable IT services brands
Taiwan’s Foxconn is set to enter India’s semiconductor industry as it stitches up a deal with the HCL group. This and more today’s ETtech Morning Dispatch.
Apple supplier Foxconn cautious despite beating earnings forecasts
The world's largest contract electronics maker downgraded its outlook for full-year revenue to a slight decline from a previous guidance of flat.
Govt will help to build ecosystem for chip manufacturing: MoS IT Rajeev Chandrasekhar
The government is committed to creating a globally competitive component ecosystem, one of which is going to build a semiconductor ecosystem, minister of state for electronics and information technology, Rajeev Chandrasekhar said on Thursday.
HCL Group planning $300 million semicon foray: sources
The HCL Group is close to submitting a proposal to the Centre to set up an assembly, testing, marking, and packaging (ATMP) unit for semiconductors.
Foxconn-Vedanta JV split credit negative for UK conglomerate: CreditSights
Foxconn withdrawing from a $19.5bn semiconductor JV with Vedanta is a “credit negative” for Vedanta Resources, according to debt research company CreditSights. Although Vedanta said it will still enter the semiconductor area this year having found alternative partners, this increases the probability of funding from Vedanta itself, says CreditSights. The research group also predicts that Foxconn’s exit represents a loss of a partner for sharing manufacturing costs and adds credit metrics for both Vedanta Resources and India’s Vedanta will come under strain.
Foxconn to apply for chipmaking incentives after pulling out of $19.5 billion Vedanta JV
On Monday, Foxconn withdrew from its semiconductor JV with Indian metals-to-oil conglomerate Vedanta, in a setback to Prime Minister Narendra Modi's chipmaking plans for India.
Vedanta's debt pile is heavier than it thought with Foxconn pulling the plug
Taiwanese firm Foxconn has pulled out of a JV with Indian mining firm Vedanta over concerns surrounding the latter company’s finances, according to undisclosed sources. Vedanta Resources has debt of $2.2 billion due this financial year, of which $1 billion will become due in 2024.
Foxconn reaffirms India commitment after Vedanta deal falls through
According to a statement issued by the company, "This is not a negative. There was recognition from both sides that the project was not moving fast enough. There were challenging gaps we were not able to smoothly overcome, as well as external issues unrelated to the project."
Vedanta shares drop 3% after Foxconn withdraws from semiconductor JV
Vedanta and Foxconn terminated their joint venture to make semiconductors in India by "mutual agreement" to "explore more diverse development opportunities," the Taiwanese component maker said on Monday.
Foxconn, Vedanta pull the plug on semiconductor JV
Union Ministers Ashiwini Vaishnaw and Rajeev Chandrasekhar say the move won’t impact India’s chip mission.
Foxconn dumps $19.5 billion Vedanta chip plan in blow to India
Foxconn said on Monday it is pulling out of a joint venture with Vedanta Ltd that was set up to make semiconductors from India.
Foxconn withdrawal from Vedanta JV has no impact on India's semiconductor goals: Rajeev Chandrasekhar
The minister said that both Foxconn and Vedanta have significant investments in India and are valued investors who are creating jobs and growth.
Vedanta to take over Foxconn chip JV from holding company
Vedanta also said it would also take over a display glass manufacturing venture from Volcan Investments, Vedanta's holding company.
Vedanta-Foxconn JV applies again for Semicon sops
The company had earlier applied to receive incentives for making 28 nm chips. It has now modified its application to manufacture 40 nm chips and receive incentives in that category, a source said. Earlier this year in May, the IT ministry had revised the guidelines for applying for incentives and said the applicants would now be able to apply as and when they either have a production grade technology or have a partnership with such company.
Vedanta Foxconn re-submit application to set up semiconductor plant
The company had earlier announced that the plant will be set up with an investment of around Rs 1.5 lakh crore and start making revenue by 2027. "We have submitted the application as per the revised guidelines. We are committed to building a world-class fab in India," Vedanta Foxconn Semiconductor Ltd said in a statement.
Foxconn pings other large business houses as Vedanta chip JV stalls
Vedanta Resources Ltd (VRL), the parent entity of vedanta limited recently raised $450 million from two of its principal rivals — Trafigura and Glencore to repay debt via pledging of equity, which analysts maintained underlines the dire financial situation of the promoters and their inability to tap more traditional sources of funding such as banks and private credit among others.
Ripple effects of Byju’s crisis; Foxconn pings others as Vedanta JV stalls
The crisis at Byju’s is experienced first-hand by its employees, who now stare at an uncertain future as their employer battles one problem after the other. Indeed, the Byju’s blast radius may singe other businesses, like digital lending. This and more in today’s ETtech Morning Dispatch.
Automaker Stellantis, iPhone assembler Foxconn form semiconductor JV for auto industry
The joint venture, called SiliconAuto, will supply Stellantis, including its new 'STLA Brain' electronic and software architecture, Foxconn and other customers, the two companies said in a statement.
Major players looking at India as next chip-making destination: IT minister Ashwini Vaishnaw
The government is ready with the latest draft of the Digital India Act that will be released soon for public consultation while the Digital Personal Data Protection Bill will be presented in Parliament in the monsoon session
Application window for India's revised semiconductor scheme opens; fresh chance for Vedanta-Foxconn
The full name of the scheme is "Modified Scheme for setting up of Compound Semiconductors, Silicon Photonics, Sensors Fab, Discrete Semiconductors Fab and Semiconductor ATMP, OSAT facilities in India". According to a statement cited by PTI, the application window for the modified scheme will be open till December 2024.
Load More
