Foxconn, the Taiwanese contract manufacturer, has reportedly reached out to other large Indian business houses as its chip joint venture with Vedanta has stalled. The talks with STMicroelectronics, a European chipmaker, have also hit a roadblock due to disagreements over the terms of the partnership.
Foxconn is reportedly looking for a new technology partner to help it set up a semiconductor manufacturing unit in India. The company is said to be interested in working with a company that has expertise in the design and manufacturing of chips for smartphones and other electronic devices.
The Vedanta-Foxconn chip JV was announced in December 2021 with plans to invest up to Rs 66,000 crore in a plant in Gujarat. However, the project has been delayed due to a number of factors, including the ongoing COVID-19 pandemic and the global chip shortage.
If Foxconn is unable to find a new technology partner, it is likely to delay or even cancel the chip JV altogether. This would be a major setback for India’s efforts to become a major player in the global semiconductor industry.
t remains to be seen whether Foxconn will be able to find a new technology partner and revive the chip JV. However, the delays and setbacks have cast a shadow over India’s ambitions to become a major player in the global semiconductor industry.
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