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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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Volkswagen ropes in Porsche CEO to lead as Diess steps down

Volkswagen Group chairman and CEO Herbert Diess is stepping down from his position at the company and will be replaced by Porsche CEO Oliver Blume.

Blume will take over as Chairman of the Group Board of Management and remains at the same time Chairman of the Board of Management of Dr. Ing. h.c. F. Porsche AG. He will take over this position with effect as of September 1.

“Oliver Blume has proven his operational and strategic skills in various positions within the Group and in several brands and has managed Porsche AG from a financial, technological and cultural standpoint with great success for seven years running,” Hans Dieter Potsch, Chairman of the Supervisory Board, said in a statement.

“From the Supervisory Board’s point of view, he is now the right person to lead the Group and to further enhance its customer focus and the positioning of its brands and products,” Potsch added.

Blume joined the Volkswagen Group in 1994 and, since then, has held management positions for the brands AUDI, SEAT, Volkswagen and Porsche.

He has been the Chairman of the Board of Management at Porsche since 2015 and a member of the Group Board of Management since 2018.

The Supervisory Board also resolved that Group CFO Arno Antlitz will additionally assume the position of COO and thus assist Blume with day-to-day operations.

The post Volkswagen ropes in Porsche CEO to lead as Diess steps down appeared first on BGR India.



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