During the past week, Vedanta confirmed that its chip and display plants' location will be announced by mid-June, while Tesla and the Indian government still have to find some common ground on Tesla's EV investment plan.
Vedanta to determine chip plant location by mid-June
According to Reuters, Anil Agarwal, chairman of Vedanta, said the group will finalize the location for its US$20 billion semiconductors and display plants in India by mid-June and will have the first chip product ready in two years, adding that Foxconn will be responsible for providing the tech and making the semiconductors for the operation.
Anil Agarwal, chairman of Vedanta
Photo: AFP
Selling cars before making in India, says Tesla
Despite the Indian government's insisting that Tesla manufactures cars before selling them in India, according to TechCrunch, Elon Musk, CEO of Tesla, said on Twitter that Tesla will not put a manufacturing plant in any location where Tesla is not allowed first to sell and service cars.
Mahindra & Mahindra open for more partnerships to speed up EV development
Days after the partnership with Volkswagen on EV components, Mahindra and Mahindra announced that they are open to sourcing more EV components out there instead of designing and making them in-house, aiming to speed up the development of EVs, according to Reuters.
Tata Motors reportedly to take over Ford's plant in India
After Ford Motor's announcement to leave India last year, The Economic Times reported that Tata Motors has got official permission to take over Ford Motor's plant in Sanand, Gujarat. On the other hand, Ford Motor may withdraw from India's new energy vehicle incentive scheme it applied for earlier this year.
India's hearable shipment grows 34% YoY in 1Q22
Counterpoint Research's latest market tracker shows that India's neckband shipment declined 13% quarter-on-quarter but grew 34% year-on-year in the first quarter of 2022. The report attributes the growth to the stylishness, wireless design, long-duration usage of neckbands, and consumers' looking for alternative audio devices.
