To create products initially for the Indian market and ultimately for the world market, Renesas will collaborate with Tejas Networks, a company owned by the Tata group.
• The largest maker of electrical vehicles in India is Tata Motors.
• The automobile industry is suffering from a global semiconductor scarcity.
• India projects that the country’s semiconductor market will grow to $63 billion by 2026.
Renesas of Japan and Tata Motors of India have joined together to design, create, and manufacture semiconductor solutions, the companies announced on Wednesday.
THE AUTOMOBILE INDUSTRY IS SUFFERING FROM A GLOBAL SEMICONDUCTOR SCARCITY:
The choice was made at a time when a protracted global shortage of semiconductor chips has hampered, among other industries, the automotive and electronics industries, forcing output reductions and highlighting the world’s dependence on a limited number of sources, such as Taiwan.
In order to speed the development of electric and connected vehicles, Renesas will work with Tata Motors, the largest producer of electric vehicles in India, to create “next-generation automotive electronics.”
The alliance, according to Natarajan Chandrasekaran, chairman of Tata Sons, the holding company for the Tata family, would expand their presence in these markets on a national and worldwide level.
The companies are interested in working together in areas such as wireless network solutions like 5G as well as upcoming automotive technologies like advanced driver-assistance systems (ADAS).
Here, Renesas will collaborate with Tejas Networks of the Tata Group to produce goods initially for the Indian market and later for the global market.
In an effort to reduce supply risks, India is one of the nations vying to subsidise domestic manufacturing of semiconductors and screens.
Applications from companies like the joint venture between domestic conglomerate Vedanta and Taiwan’s Foxconn, as well as Singapore’s IGSS Ventures, have been attracted by its offer for $10 billion (approximately Rs. 78962 crore) in incentives.
INDIA PROJECTS THAT THE COUNTRY’S SEMICONDUCTOR MARKET WILL GROW TO $63 BILLION BY 2026:
Oil-to-metals behemoth Vedanta is to spend $20 billion (about Rs. 1.6 lakh crore) on two factories that will make chips and displays, while jeweller Rajesh Exports will spend $3 billion (approximately Rs. 23688 crore) on a factory that would make electronic displays.
From $15 billion (approximately Rs. 1.2 lakh crore) in 2020, India anticipates its domestic semiconductor industry to grow to $63 billion (about 5 lakh crore) by 2026.
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