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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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Xiaomi reportedly planning to unveil its first car prototype in August

Chinese tech giant Xiaomi’s is founder Lei Jun is expected to unveil the first EV prototype in August. As per report, HVST Automobile Design which is responsible for the Maven concept car from WM Motor will design the upcoming Xiaomi car. The Xiaomi Auto manufacturing plant and R&D center will be built in Yizhuang, and the first actual cars are expected to leave its production line in 2024.

Xiaomi CEO Lei Jun earlier announced during that Xiaomi will create a brand new subsidiary with an initial investment of 10 billion yuan ($1.52 billion). The company plans to invest $10 billion in total over the next 10 years in the electric car project.

“The decision was made after numerous rounds of deliberation among all our Partners, and this will be the final major entrepreneurial project of my life,” he said in a statement. “I am willing to put all my personal reputation on the line and fight for the future of our smart electric vehicle! I am determined to lead my team to fight for the success of the Xiaomi electric vehicle.”

It is not just Xiaomi, but other smartphone manufacturers like Apple and Huawei are also planning to throw their hats in the electric vehicles segment. Apple’s supplier Foxconn recently revealed three new electric cars recently. For the unversed, Apple is also working on a secret project called Project Titan of Apple that aims to roll out an electric vehicle. Huawei, on the other hand, has also announced its plans to enter this segment.

According to Transparency Market Research, the year 2018 marked the beginning of heavier investments in the self-driving car market, as Ford created a new AV division with plans to invest US$ 4 billion by 2023, and Uber ended its development of self-driving trucks to shift its focus on cars. The same year, the government of Japan announced plans to commence the testing of autonomous vehicles on public roads, with a vision to offer self-driving car services for the 2020 Tokyo Olympics.

The adoption of self-driving cars is expected to grow at a stupendous ~ 89 percent CAGR through to 2030, owing to manifold advantages offered by these cars, such as elimination of driver efforts and increased passenger comfort and safety.

The post Xiaomi reportedly planning to unveil its first car prototype in August appeared first on BGR India.



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