1. Home
  2. Technology
  3. Foxconn in talks for JV and tech partnership with TSMC and TMH Group
Foxconn in talks for JV and tech partnership with TSMC and TMH Group
Technology

Foxconn in talks for JV and tech partnership with TSMC and TMH Group

17 Jul 2023 2 Min Read CW Team
According to a report, Foxconn is currently in discussions with Taiwan Semiconductor Manufacturing Co (TSMC) and Japan's TMH Group to form a joint venture and technology partnership in India, with the aim of establishing semiconductor fabrication units. This development follows the recent cancellation of Foxconn's chip joint venture with the Vedanta Group.

TSMC is recognised as one of the leading chip manufacturers globally, while TMH Group specialises in providing semiconductor solutions, as well as managing and maintaining manufacturing equipment.

The report states that Foxconn has been engaged in negotiations with both companies for some time and is expected to announce the partnership details soon. The collaboration will likely involve the production of advanced and legacy chips within India.

The previous joint venture between Foxconn and Vedanta was terminated due to their inability to secure a technology partner, as advised by the Indian government. Foxconn had also been discussing potential technology partnerships with STMicro from Europe and GlobalFoundries from the United States. It is possible that Foxconn may still finalise agreements with these two companies.

Hon Hai Technology Group, commonly known as Foxconn, and the Vedanta Group, led by Anil Agarwal, had initially announced their joint venture in February 2022 to manufacture chips and display panels in India. This move positioned them as early participants in the India Semiconductor Mission (ISM), a strategic initiative by the Indian government to foster domestic capabilities in the semiconductor industry.

In December 2021, the government launched a $10 billion semiconductor incentive program, which offered a 50 per cent subsidy on capital expenditure for companies setting up chip manufacturing units in India.

To attract such projects under the ISM, individual states had also agreed to provide additional subsidies ranging from 15 per cent to 25 per cent.

According to a report, Foxconn is currently in discussions with Taiwan Semiconductor Manufacturing Co (TSMC) and Japan's TMH Group to form a joint venture and technology partnership in India, with the aim of establishing semiconductor fabrication units. This development follows the recent cancellation of Foxconn's chip joint venture with the Vedanta Group.TSMC is recognised as one of the leading chip manufacturers globally, while TMH Group specialises in providing semiconductor solutions, as well as managing and maintaining manufacturing equipment.The report states that Foxconn has been engaged in negotiations with both companies for some time and is expected to announce the partnership details soon. The collaboration will likely involve the production of advanced and legacy chips within India.The previous joint venture between Foxconn and Vedanta was terminated due to their inability to secure a technology partner, as advised by the Indian government. Foxconn had also been discussing potential technology partnerships with STMicro from Europe and GlobalFoundries from the United States. It is possible that Foxconn may still finalise agreements with these two companies.Hon Hai Technology Group, commonly known as Foxconn, and the Vedanta Group, led by Anil Agarwal, had initially announced their joint venture in February 2022 to manufacture chips and display panels in India. This move positioned them as early participants in the India Semiconductor Mission (ISM), a strategic initiative by the Indian government to foster domestic capabilities in the semiconductor industry.In December 2021, the government launched a $10 billion semiconductor incentive program, which offered a 50 per cent subsidy on capital expenditure for companies setting up chip manufacturing units in India.To attract such projects under the ISM, individual states had also agreed to provide additional subsidies ranging from 15 per cent to 25 per cent.

Next Story
Building Material
21 Dec 2024

JK Cement emerges successful bidder for Mahan coal mine in Madhya Pradesh

This marks the company’s second commercial coal block win, following its acquisition of the West of Shahdol (South) coal block. "The company is committed to becoming self-reliant for its existing cement plants and upcoming projects," JKC stated. The surplus coal from the mine will be sold commercially. The vesting order was handed over to JK Cement during a ceremony at Shastri Bhawan, New Delhi, a critical milestone for commencing mining operations within the stipulated timeline...

Read More
Next Story
Building Material
21 Dec 2024

Prism Johnson's cement division goes live with Ramco ERP Suite

Prism Johnson has successfully gone live with the Ramco ERP Suite for its Cement Division. This milestone marks a significant step in Prism Johnson's digital transformation journey, leveraging Ramco Systems' advanced enterprise solutions and process control systems to streamline business processes, manufacturing operations and drive efficiency. The implementation includes cutting-edge modules for Maintenance, Sales, Distribution, Finance, Procurement, Manufacturing, Quality, and HR Management (HRM). These solutions enable Prism Johnson to achieve seamless integration across its business and wo..

Read More
Next Story
Infrastructure Urban
21 Dec 2024

Indian shadow bank Shriram Finance gets record $1.28 billion loan

Shriram Finance Ltd. is reported to have borrowed $1.28 billion in a multi-currency social loan, marking the largest offshore facility ever undertaken by an Indian shadow lender. According to a press release issued by Shriram, the deal is divided across the dollar, euro, and dirham. Sources familiar with the transaction, who wished to remain anonymous, indicated that the tenors in the multi-tranche deal range from three to five years. This loan adds to the surge of offshore debt sales by Indian shadow lenders this year, a trend prompted by the Reserve Bank of India's tightening of rules in Nov..

Read More

Opinion Poll

Question : Which technological advancement do you believe will most transform the real estate industry in the coming years?

Latest updates

JK Cement emerges successful bidder for Mahan coal mine in Madhya Pradesh
Cement
21 Dec 2024

JK Cement emerges successful bidder for Mahan coal mine in Madhya Pradesh

Prism Johnson's cement division goes live with Ramco ERP Suite
Cement
21 Dec 2024

Prism Johnson's cement division goes live with Ramco ERP Suite

Indian shadow bank Shriram Finance gets record $1.28 billion loan
ECONOMY & POLICY
21 Dec 2024

Indian shadow bank Shriram Finance gets record $1.28 billion loan

Enso Group Partners With G-Energy To Launch Engine Oils In India
OIL & GAS
21 Dec 2024

Enso Group Partners With G-Energy To Launch Engine Oils In India

Air India Orders 34 Training Aircraft For Flight School
AVIATION & AIRPORTS
21 Dec 2024

Air India Orders 34 Training Aircraft For Flight School

Maruti Signs Deal with Bihar Govt to Automate Driving Tests
ROADS & HIGHWAYS
21 Dec 2024

Maruti Signs Deal with Bihar Govt to Automate Driving Tests

Pimpri Chinchwad Civic Body Imposes Time Restrictions
SMART CITIES
21 Dec 2024

Pimpri Chinchwad Civic Body Imposes Time Restrictions

BBMP to demolish 29 buildings in Bengaluru south zone
Real Estate
21 Dec 2024

BBMP to demolish 29 buildings in Bengaluru south zone

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000