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AMD to invest $400 million in India by 2028: Here’s what we know

US chipmaker Advanced Micro Devices said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru. AMD’s announcement was made by its Chief Technology Officer Mark Papermaster at an annual semiconductor conference that started Friday in Prime Minister Narendra Modi’s home state of Gujarat. Other speakers at the flagship event include Foxconn Chairman Young Liu and Micron CEO Sanjay Mehrotra. Despite being a late entrant, the Modi government has been courting investments into India’s nascent chip sector to establish its credentials as a chipmaking hub. AMD said it will open its new design centre campus in Bengaluru by end of this year and create 3,000 new engineering roles within five years. “Our India teams will continue to play a pivotal role in delivering the high-performance and adaptive solutions that support AMD customers worldwide,” Papermaster said. The new 500,000-square-foot (55,5...
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Tesla bags 1 lakh car order by rental car company Hertz, market value crosses $1 Tn

US-based rental car company Hertz has revealed that it has ordered 100,000 Tesla vehicles, which would amount to at least $4.2 billion. The company claims that the deliveries would complete by end of 2022. The company has taken this step as a part of an ambitious plan to electrify its fleet. The move includes a new EV charging infrastructure across the company’s global operations.

“Electric vehicles are now mainstream, and we’ve only just begun to see rising global demand and interest,” said Hertz interim CEO Mark Fields.

Beginning in early November, customers will be able to rent a Tesla Model 3 at Hertz airport and neighbourhood locations in US major markets and select cities in Europe.

Hertz also is installing thousands of chargers throughout its location network.

“The new Hertz is going to lead the way as a mobility company, starting with the largest EV rental fleet in North America and a commitment to grow our EV fleet and provide the best rental and recharging experience for leisure and business customers around the world,” Fields said in a statement.

Customers who rent a Tesla Model 3 will have access to 3,000 Tesla supercharging stations throughout the US and Europe, the company said.

With the current order, EVs will comprise more than 20 percent of Hertz global fleet and is expected to be supported by a combination of Level 2 and DC fast charging in approximately 65 markets by the end of 2022 and more than 100 markets by the end of 2023.

Global EV sales skyrocketed 200 per cent in the last year and will likely continue to grow with commitments from global automakers to increase EV sales.

For example, in August, three US automakers pledged to boost EV sales to 40-50 per cent by 2030.

(With IANS inputs)

The post Tesla bags 1 lakh car order by rental car company Hertz, market value crosses $1 Tn appeared first on BGR India.



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