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Tesla signs strategic deal with Tata Electronics for procurement of semiconductor chips: Report
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.
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.
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What report said on Tata Electronics?
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.
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What we know about Elon Musk's India visit?
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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The Tesla CEO is likely to be accompanied by other company executives during the visit, news agency Reuters reported.
