Elon Musk is scheduled to visit India and meet with Indian Prime Minister Narendra Modi. Global IC design houses speeded up investments in India by setting up global capability centers.
Elon Musk to visit India, may entail a Tesla plant
In just ten months, Tesla CEO Elon Musk plans to meet Indian Prime Minister Narendra Modi for the second time, which may entail announcing an EV manufacturing facility and positioning India as an emerging EV production hub to prevent Chinese-made EVs from flooding the world.
India attracts 30% of global capability centers in semiconductor industry in 4Q23
The National Association of Software and Service Companies and Zinnov released an analysis showing that during the fourth quarter of 2023, ten companies set up their global capability centers in India, with three of them in the semiconductor area, including US-based network-on-chip developer Signature IP, EdgeCortix, a Japan-based fabless semiconductor firm focused on energy-efficient AI processing and Taiwan-based silicon IP provider M31 Technology.
Indian server maker Mega Networks planning AI servers and OSAT plant
Mega Networks, an Indian server solutions provider with almost 28 years of experience, plans to bring out AI servers and enter the semiconductor packaging segment.
Hyundai and Kia partner with India-based Exide for EV batteries
Exide Energy Solutions Limited signed a non-binding MoU with Hyundai Motor and Kia to strengthen strategic cooperation in India's EV market. Under the MoU, both parties will develop, produce, and supply battery cells for Hyundai Motor's EVs dedicated to the Indian market.
Pegatron reportedly in talks to sell iPhone plant in India to Tata
Reuters quoted two sources saying that Pegatron is in advanced discussions to transfer control of India's sole iPhone manufacturing plant to Tata Group. Under the proposed deal, Tata would hold a majority stake of at least 65% in a joint venture to manage the facility near Chennai. Pegatron will offer technical support and retain the remaining stake.
India expected to become third-largest market for Apple, says Counterpoint
Counterpoint Research anticipates that India will likely surpass the UK, become Apple's fourth-largest market in 2024, and overtake Japan to be the third-largest market for Apple by 2026.
Panasonic, Indian Oil to storm Indian EV market with battery joint venture
Panasonic announced it was in negotiations with Indian Oil on a battery production partnership. It is hoped that a deal can be reached by the summer of 2024. Panasonic seeks to collaborate with Indian Oil to produce cylindrical batteries for automotive use.
