News Brief
Tesla Is Set To Diversify Supply Chain By Making Tata Electronics Its Strategic Partner For Semiconductor Chips: Report
Tesla CEO Elon Musk.
Tesla has reportedly entered into a strategic agreement with Tata Electronics for the supply of semiconductor chips for its global operations, as per a report by The Economic Times.
While the specifics of the deal, including its value and terms, remain undisclosed, this move is seen as part of Tesla's strategy to diversify its supply chain and establish a significant presence in India.
Tata Electronics, leading Tata group's foray into semiconductor manufacturing, has been expanding its workforce by recruiting top-level executives.
The company has also set up semiconductor manufacturing facilities in Hosur, Dholera, and Assam, with plans for further expansion. To date, Tata Electronics has invested $14 billion in its semiconductor business.
Meanwhile, Elon Musk is scheduled to visit India on 21 and 22 April, during which he will meet with Prime Minister Narendra Modi and is expected to make major announcements.
These announcements may include the launch of the Starlink service in India and plans to invest between $2 billion to $3 billion in the country.
According to the same report, Musk is likely to be accompanied by other senior executives from Tesla during his visit.
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