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Oct 25, 10:31
Indian startups offer electric car conversion to spur EV revolution
The Indian government expects massive adoption of electric vehicles in the country over the next decade. According to NITI Aayog, the country's top think tank, EV sales penetration could reach 70% for commercial cars, 30% for private cars, 40% for buses, and 80% for two- and three-wheelers by 2030.
Electric vehicles have strong potential in the Indian market. But not everyone in the South Asian country is convinced that a market where about 22 out of 1,000 people own a vehicle is ready for the EV revolution yet, according to DIGITIMES' correspondent in India. In India's mobile telecom market, intense price competition has drastically changed its landscape, with the top-3 carriers dominating over 90% of the market. In the semiconductor sector, AMD is expected to be the first adopt TSMC's SoIC technology fot its HPC chips.
Tata Technologies reportedly has received US$100 million in orders from both local and foreign clients, mostly for car-related products.
China's Geely Automobile Holdings is reportedly mulling in-house development and production of chipsets for its own vehicles as it has newly expanded its registered businesses to include IC chips manufacturing as well EV battery and electrical motor production, according to industry sources.
The largest China-based lithium battery maker Contemporary Amperex Technology (CATL) has reportedly planned to set up a battery factory in the US, but the company will face challenges, according to industry sources.
EMS provider Lite-On Technology will kick off production of fast charging modules used in DC charging piles for electric vehicles (EVs) in the third quarter of 2022, according to the company.
Automotive IDMs have notified their clients about 10-20% price hikes for their chips starting 2022 as they continue to face mounting costs for raw materials, according to industry sources.
Having been in existence since the 1900s, electric vehicles (EV) are only put under the limelight in recent years as governments vow to cut carbon emissions. Upstream, the EV trend provides a tailwind for Taiwanese suppliers who have long been playing a major role in the global ICT supply chain.
Prices for PV modules in the Taiwan market have been rising, and wil rise further, according to local EPC (engineering, procurement, construction) undertakers and investors in the PV power generation sector.
Foxconn Technology (Hon Hai Precision Industry) continues to actively promote industry sectors related to electric vehicles (EV) in order to help it achieve its goal of EV output value reaching NT$1 trillion (US$35.9 billion) in five years.
Since moving into the new economic era in the 1990s, India has chosen the information service sector as its core industry. Much of the loans and subsidies from the World Bank have been spent on infrastructure such as satellite communications, which has made software business process outsourcing (BPO) a mainstream business in India. The fundamental industrial structure of BPO has been well developed since the 1990s.
Foxconn has been aggressive in expanding its presence in the EV sector, and it is looking to promote localized EV production in various regions to tap respective markets. Robust orders for HPC chips from AMD and Nvidia are expected to drive sales growth at TSMC in 2022. Quanta Computer's server manufacturing facilities in Taiwan have reached almost full production capacity and will open a new plant in Thailand next year to produce server motherboards.