Foxconn partners with STMicroelectronics NV to set up semiconductor factory in India
New Delhi: Foxconn Technology Group is partnering with STMicroelectronics NV to boost its chances of securing government incentives to build a semiconductor factory in India, Bloomberg reported.
Earlier, Foxconn had joined hands with mining and metals company Vedanta to build a semiconductor factory in India.
Foxconn is best known as Apple Inc.’s key assembly partner.
The joint venture could not progress as both the companies lacked very specialized expertise to run the project which requires billions of dollars in investment.
The Indian government has sought more details from Foxconn about its partnership with STMicro, the report said, citing sources.
Foxconn is also in talks with a few other companies that have chip-making technology, the report added.
India is looking to develop its backbone chip technology to reduce dependence on expensive imports and reliance on Taiwan and China.
Under the Centre’s semiconductor incentive scheme, $10 billion has been allocated to encourage chipmakers to set up factories in India.
Following this announcement, US memory chip firm Micron Technology Inc. announced a $2.75 billion assembly and testing facility in Modi’s home state of Gujarat.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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