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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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Ola shuts used car business Ola Cars, winds up quick commerce platform Ola Dash

Ride-hailing platform Ola has shut down its used vehicle business Ola Cars as well as Ola Dash, its quick-commerce business, at a time when Indian companies are pouring money into the 10-15 minute grocery delivery market.

The company shut Ola Cars within one years of its launch, as it focuses on its electric two-wheeler and car verticals.

Ola has so far shut down Ola Cafe, food panda, Ola Foods, and now Ola Dash.

“Ola has reassessed its priorities and decided to shut down Ola Dash – its quick commerce business. Ola will also be reorienting its Ola Cars business to focus more on strengthening the go-to-market strategy for Ola Electric,” the company said in a statement.

It added that Ola Cars’ infra, technology and capabilities will be “repurposed towards growing Ola Electric’s sales and service network”.

Ola now aims to invest more towards its electric car, cell manufacturing, and financial services businesses.

Ola Dash shuts down at a time when India’s quick commerce market is all set to witness 15 times growth by 2025, reaching a market size of nearly $5.5 billion.

The total addressable market for quick commerce in India stands at $45 billion, and urban areas are driving this market on the back of mid-high-income households.

Zomato on Friday poured Rs 4,447 crore into acquiring quick-commerce grocery delivery platform Blinkit.

In December 2021, Swiggy announced to pour $700 million into Instamart.

Last month, 10-minute delivery platform Zepto raised $200 million, taking its valuation to around $900 million.

Ola Electric is also facing scrutiny over faulty batteries in its electric two-wheelers, among other EV players like Okinawa Autotech, Pure EV, Jitendra Electric Vehicles, and Boom Motors, by the government.

The Bureau of Indian Standard (BIS), which comes under the Union Consumer Affairs Ministry, has published the “performance standards for electronic vehicle batteries” in a bid to keep a strict control over the manufacturing of EV batteries.

–IANS

The post Ola shuts used car business Ola Cars, winds up quick commerce platform Ola Dash appeared first on BGR India.



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