With India aiming to build itself an EV manufacturing hub, Tesla did not respond to Indian officials' call for making EVs in India, while Toyota decided to align its carbon neutrality plan with the Indian government.
Tesla's entry into India likely on hold
The Economic Times, citing sources, reported that Tesla's India team has started to work for the larger Asia-Pacific instead of the Indian market due to the high import duty on foreign-made electric vehicles that have stopped Tesla from selling cars in India, highlighting the tension between Tesla and the Indian government.
Tata Electronics eyes advanced semiconductor packaging business
According to The Economic Times, Raja Manickam, CEO of Tata Electronics, said that Tata Electronics is in talks with global semiconductor and OSAT companies to cooperate on advanced packaging such as heterogeneous integration and that Tata Electronics is evaluating locations to set up its OSAT facility, and hopefully, the location can be determined by mid-May.
Toyota to make EV parts in India
According to Bloomberg, Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts signed an MoU with the Karnataka government to manufacture electric vehicle (EV) components in the state with a total investment of US$624 million. Toyota's investment aligns with India's goal to be an EV production hub and is expected to create 3,500 jobs.
Ola Electric grabs top position in India's electric-two-wheeler market
According to NewsBytes citing India's official statistics, the US$5 billion Indian unicorn Ola Electric sold 12,683 electric two-wheelers in April, the top seller for the month despite it being plagued by fire incidents, global chip shortage, and low capacity for the past months.
India's refurbished smartphone market expected to reach US$10 billion
Business Standard, citing Redseer's statistics, reported that with growing demand for used and refurbished smartphones, the market in India is likely to grow at a 16% CAGR, reaching US$10 billion by 2026.
