Tesla has reportedly signed a strategic deal with Tata Electronics for the procurement of semiconductor chips for its global operations. The Economic Times reported, citing officials in the know saying that details of the deal- its value and terms, remain undisclosed. The report suggested that the move could be a part of Tesla's strategy to diversify its supply chain and establish a significant presence in India.
The logo of car manufacturer Tesla. The report claimed that details of the deal- its value and terms, remain undisclosed. (Reuters)
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This comes as Tata Electronics, which leads Tata group's entry into semiconductor manufacturing, increased its workforce by recruiting top-level executives, as per the report. Tata Electronics has also established semiconductor manufacturing facilities in Hosur, Dholera and Assam and the company plans to expand operations. It has invested $14 billion in the business to date, the report added.
Elon Musk confirmed his visit to India on April 21 and 22 during which he is set to meet PM Modi and make major announcements including the launch of the Starlink service in the country and plans to invest between $2 billion to $3 billion.
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Home/Business/Tesla signs strategic deal with Tata Electronics for procurement of semiconductor chips: Report
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