India's Tata Group plans manufacturing push into chips and EV batteries

 India’s Tata Group is planning a foray into semiconductor manufacturing as the coffee-to-cars conglomerate seeks to mitigate the pain from the global chip crisis as well as reduce dependence on imports.

Besides making chips, plans to manufacture batteries for electric vehicles will also be announced soon, N Chandrasekaran, chairman of Tata Sons, the group’s main holding company, said at an event in Mumbai on Friday.

BUSINESS, TATA MOTORS, ELECTRIC CARS, SEMICONDUCTORS

Mr Chandrasekaran had spoken about evaluating partnerships for cell and battery manufacturing in India and Europe in Tata Motors' annual report in June.

The initiatives by the $103 billion Tata Group are aligned to Prime Minister Narendra Modi’s attempts to make India a leader in semiconductor production and reduce its reliance on imports amid global chain disruptions.

Several international chip giants including Intel and Taiwan Semiconductor Manufacturing are exploring India as a potential manufacturing base, the nation’s Technology Minister Ashwini Vaishnaw said on Thursday.

Car makers around the globe are grappling with a semiconductor shortage, exacerbated by pandemic lockdowns in China, which have hobbled the car and the electronics sector by raising input costs for makers.

“Supply chain is getting very precarious and uncertain,” Shailesh Chandra, managing director at Tata Motors Passenger Vehicles, said in an interview on Friday.

Lockdowns in China have worsened the visibility of semiconductors and the logistics have become the next challenge for Tata Motors given the lack of availability of containers, he said.

To mitigate the semiconductor crunch, Tata Motors is going for premium freight, finding alternatives for chips and buying them from the open market, Mr Chandra said.

He expects the shortage to persist for six months at least and sees the fourth quarter being more uncertain than the previous year.

Read More : https://www.thenationalnews.com/business/technology/2022/04/30/indias-tata-group-plans-manufacturing-push-into-chips-and-ev-batteries/

Comments

Post a Comment

Popular posts from this blog

Modi 3.0 With 72 Ministers Takes Oath, 9 New Faces In Cabinet

Image
Prime Minister Narendra Modi took oath today along with 71 ministers of the new coalition government. Thirty of them are Cabinet Ministers, five independent charge, and 36 Ministers of State. The portfolios will be announced later. Modi 3.0 With 72 Ministers PM Modi, 73, will head a coalition government in his third term, or Modi 3.0, for the first time since he became Prime Minister in 2014 following a huge "Brand Modi" victory after 10 years of the United Progressive Alliance (UPA) rule. He is the second Prime Minister after Jawaharlal Nehru to be elected for a third term in a row. The oath ceremony is being held at the lawns of the Rashtrapati Bhavan, with the weather office forecasting a maximum temperature of 42 degree Celsius in the national capital. President Droupadi Murmu administered the oath to PM Modi. Rajnath Singh and Amit Shah took oath after him. Nitin Gadkari was the fourth leader to be administered the oath of office by the President. JP Nadda, Shivraj Singh
Read more

Peru to sue Repsol for $4.5bn over oil spill

Image
Peru's consumer protection agency is suing Spanish oil firm Repsol over a huge oil spill which blackened beaches off the coast of Lima in January. The spill, which Peru called the worst ecological disaster around Lima in recent memory, leaked more than 10,000 barrels into the Pacific Ocean. The civil lawsuit seeks $3bn (£2.54bn) for environmental damage and $1.5bn (£1.27bn) for damages to locals. Repsol has denied responsibility. On Tuesday, a Peruvian judge admitted the $4.5bn lawsuit by Indecopi against Repsol, meaning the case will go to court. An underwater oil pipeline owned by the company caused a spill on 15 January. It happened when an Italian-flagged tanker, Mare Doricum, was unloading at Repsol's La Pampilla refinery. Repsol initially said the spill was caused by "sudden and extraordinary anomalous waves produced by the volcanic eruption in Tonga". However, it later blamed the oil tanker. The firm has denied responsibility for the spill and told Reuters tha
Read more

Experience the Magic of Christmas with the Best Home Theatre Systems at Rajan & Co in Tamil Nadu

Image
Get ready for the ultimate movie experience with the best home theatre showroom in Nagercoil - Rajan & Co! We have a wide range of options available to suit your needs and budget. And with our live Christmas sale, you can enjoy flat discounts on all our products. Don't miss out on this amazing opportunity to upgrade your home theatre setup at never before seen prices! Best Home Theatre Showroom In Nagercoil, Rajan & Co Contact Details: Address : 50, Court Rd, Opp SLB School, Nagercoil, Tamil Nadu 629001. Email : rajanandco123@gmail.com Business Phone: (+91) 8526333363 Website: https://www.rajanandco.in/ A home theatre system is typically an audio enhancing device which includes a TV, a video source, a receiver and speakers. This powerful combination channels crystal-clear audio and surround sound, elevating the listening experience. Before investing in a home theatre for your home, you should consider things like the number and type of speakers you would like to have, where
Read more