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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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Tata Motors EV subsidiary buys Ford India’s Gujarat plant for Rs 726 crore

Tata Passenger Electric Mobility Limited (TPEML), a subsidiary of Tata Motors and Ford India (FIPL) have signed an agreement for the acquisition of a Ford manufacturing plant situated at Sanand, Gujarat. The deal will include the (i) entire land & buildings; (ii) Vehicle Manufacturing Plant along with machinery and equipment situated therein; and (iii) transfer of all eligible employees of Ford India’s manufacturing operations at Sanand. The deal has been finalized at Rs 725.7 crore.

Ford India will continue to operate the Powertrain Manufacturing Facility by leasing back the land and buildings of the Powertrain Manufacturing Plant from Tata Motors on agreed terms. Tata has agreed to offer employment to the eligible employees of Ford’s Powertrain Manufacturing Plant if Ford stops production completely.

Tata Motors, in a statement, said that the closure of the transaction will be subject to the receipt of relevant approvals from the government authorities and fulfillment of conditions. Both companies and the government of Gujarat had already signed an MoU in May this year to get all the approvals.

Tata Motors’ new facility will be adjacent to its existing manufacturing unit in Sanand. This will help the brand make the transition with relative ease. Additionally, the company claims that it will make the necessary investments to reconfigure the plant to adapt to Tata Motors’ existing and future vehicle platforms.

Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Limited and Tata Passenger Electric Mobility Limited, said, “The agreement with FIPL signed today is beneficial to all stakeholders and reflects Tata Motors strong aspiration to further strengthen its market position in the Passenger Vehicles segment and to continue to build on its leadership position in the Electric Vehicle segment. It will accelerate the growth and development of the Indian auto industry by taking a progressive step forward towards building a future ready Atmanirbhar Bharat”.

“Today’s announcement marks an important step forward in Ford’s ongoing business restructuring in India, which is part of our Ford+ plan for strategic transformation. With the transfer of employment for eligible vehicle manufacturing employees included in the agreement, this milestone also highlights our best effort in caring for those impacted by the restructuring,” said Steve Armstrong, Transformation Officer of Ford Motor Company.

The post Tata Motors EV subsidiary buys Ford India’s Gujarat plant for Rs 726 crore appeared first on BGR India.



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