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<keyword id="19986399" type="General" weightage="20" keywordseo="Tata-Electronics" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Electronics" meta.hostid="261" meta.entityid="Tata Electronics">Tata Electronics</keyword> on Thursday said it has concluded an agreement with Taiwan-based Powerchip <keyword id="20073013" type="General" weightage="20" keywordseo="semiconductor-manufacturing" source="keywords">Semiconductor Manufacturing</keyword> Corporation, which will provide technology support for the Dholera wafer fab of the Indian tech major. As per the agreement, PSMC will provide design and construction support to build India's first AI-enabled greenfield fab in Gujarat, license a broad portfolio of technologies and provide engineering support to the fab unit. "We are pleased to partner with PSMC, whose technology and expertise will significantly accelerate our roadmap to pioneer semiconductor manufacturing in India. It will position us to play a key role in the growing semiconductor market to serve global customers," Tata Sons Chairman N Chandrasekaran said. The company is setting up a chip manufacturing unit in Dholera at an investment of up to Rs 91,000 crore ( about USD 11 billion). "<keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword>'s multi-fab vision for Dholera is projected to create over 1,00,000 skilled jobs," the statement said. Tata Electronics' Dholera-based Fab will have a manufacturing capacity of up to 50,000 wafers per month. "This partnership represents a win-win situation, as it positions PSMC and the Taiwanese ecosystem to gain a significant first-mover advantage in the rapidly expanding Indian market while helping India achieve self-reliance in semiconductor manufacturing," Powerchip Group, Chairman and CEO of PSMC, Frank Huang said. SEE ALSO:<a href="https://www.businessinsider.in/business/telecom/news/airtel-is-using-ai-powered-technology-to-block-spam-calls-and-messages/articleshow/113691942.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-is-using-ai-powered-technology-to-block-spam-calls-and-messages/articleshow/113691942.cms" target="_blank">Airtel is using AI-powered technology to block spam calls and messages</a><a href="https://www.businessinsider.in/stock-market/webstories/diffusion-engineers-ipo-quick-review-ipo-gmp-risk-factors-and-more/slidelist/113687580.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/diffusion-engineers-ipo-quick-review-ipo-gmp-risk-factors-and-more/slidelist/113687580.cms" target="_blank">Diffusion Engineers IPO quick review – IPO GMP, risk factors and more</a><a href="https://www.businessinsider.in/stock-market/news/manba-finance-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113667907.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/manba-finance-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113667907.cms" target="_blank">Manba Finance IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Tata Electronics, PSMC conclude pact for ₹91,000 crore Dholera chip manufacturing unit

<ul><li><keyword id="19971142" type="General" weightage="20" keywordseo="Ford" source="keywords" meta.keywordsubtype="org" meta.entityname="Ford" meta.hostid="261" meta.entityid="Ford">Ford</keyword> is all set to make a return to India, with eyes on the international market.</li><li>The company plans on repurposing its Chennai plant to manufacture vehicles for export.</li><li>The company has submitted a letter of intent to the Tamil Nadu government.</li></ul>After several reports about its return to India, popular American automaker Ford has expressed its intent to restart operations at its plant in Chennai, Tamil Nadu. Ford is well known for its popular SUVs such as the Endeavour and EcoSport. Ford had exited the Indian market in 2021 due to declining sales. The company, which had two plants in the country had sold one to Indian automaker <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword> and planned a shutdown of the second plant. However, it could not wind down its vehicle and engine manufacturing in Chennai by the targeted timeline of the second quarter of 2022. The company on Friday submitted a letter of intent to the Tamil Nadu government, confirming its intention to utilise the Chennai plant for manufacturing for exports. "This step aims to underscore our ongoing commitment to India as we intend to leverage the manufacturing expertise available in Tamil Nadu to serve new global markets," Ford International Markets Group President Kay Hart said. “We are grateful for the ongoing support from the Tamil Nadu Government as we explored different options for the Chennai plant,” Hart added. The company said the strategic move will see the facility repurposed to focus on manufacturing for export to global markets, as part of the company's Ford+ growth plan. “Ford currently employs 12,000 individuals in Global Business Operations in Tamil Nadu, a number expected to grow by 2,500 to 3,000 jobs within the next three years”, it added. "Combined with the engine manufacturing operations in Sanand, India represents Ford's second-largest salaried workforce worldwide," the company said. The company said that further information about the type of manufacturing and other details will be disclosed later. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/western-carriers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113312196.cms">Western Carriers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/pn-gadgil-jewellers-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113302533.cms">PN Gadgil Jewellers IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-is-already-cheaper-than-the-iphone-15-pro-in-india-but-you-can-get-it-for-up-to-30000-cheaper/articleshow/113220789.cms">iPhone 16 Pro is already cheaper than the iPhone 15 Pro in India, but you can get it for up to ₹30,000 cheaper</a>

Ford is returning to India, expresses intent to restart its Tamil Nadu plant for exports

<ul><li>There has been a decline in vehicle sales in July 2024.</li><li>Companies like <keyword id="19909974" type="General" weightage="20" keywordseo="Maruti-Suzuki" source="keywords" meta.keywordsubtype="org" meta.entityname="Maruti Suzuki" meta.hostid="261" meta.entityid="Maruti Suzuki">Maruti Suzuki</keyword>, <keyword id="19906087" type="General" weightage="20" keywordseo="Hyundai" source="keywords" meta.keywordsubtype="org" meta.entityname="Hyundai" meta.hostid="261" meta.entityid="Hyundai">Hyundai</keyword> and <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword> have reported a decline in sales.</li><li><keyword id="20480977" type="General" weightage="20" keywordseo="Mahindra-and-Mahindra" source="keywords" meta.keywordsubtype="org" meta.entityname="Mahindra and Mahindra" meta.hostid="261" meta.entityid="Mahindra and Mahindra">Mahindra and Mahindra</keyword> and Kia on the other hand have reported an increase in sales.</li></ul> The month of July 2024 could have been better for <keyword id="19962336" type="General" weightage="20" keywordseo="automakers" source="keywords">automakers</keyword>, with most companies reporting a decline in sales compared to July 2023. India’s biggest automakers, such as Maruti Suzuki, Hyundai and Tata Motors have all reported a decline in <keyword id="47168" type="General" weightage="20" keywordseo="car-sales" source="Orion">car sales</keyword>. Maruti Suzuki continued to lead the Indian car market despite the decline in sales, with Hyundai and Tata Motors occupying the second and third spots respectively. <h2>Maruti Suzuki reports a nearly 10% decline</h2>Maruti Suzuki said its total domestic passenger vehicle sales stood at 1,37,463 units in July 2024, compared to 1,52,126 vehicles in July 2023, a decline of down 9.64%. <div type="Article" hostid="261" msid="112216733" title="Akums Drugs IPO allotment – How to check allotment, IPO GMP, listing date and more" mstype="2" mssubtype="0"></div> The company's sales of mini-segment cars, such as the Alto and S-Presso, were higher at 9,960 vehicles in July 2024 compared to 9,590 vehicles in July 2023. Sales of compact cars consisting of Baleno, Celerio, Dzire, Ignis, Swift and WagonR were lower at 58,682 vehicles last month compared to 67,102 vehicles in July 2023. Hyundai, which occupies the second spot this month sold 49,013 cars, down from 50,701 cars sold in July 2023, recording a 3% decline in sales. Tata Motors sold 44,725 vehicles in July 2024 as compared to 47,628 units sold in July 2023, recording a 6.1% decline in sales. Mahindra and Mahindra reported a 15% increase in passenger vehicle sales in the domestic market to 41,623 vehicles in July 2024 compared to 36,205 vehicles in July 2023. Kia reported a 2.5% increase in sales with 20,507 cars sold in July 2024, up from 20,002 units sold in July 2023. Honda Cars reported a 5% decline in sales, with 4,624 vehicles shipped in July 2024, down from 4,864 units shipped in July 2023. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/akums-drugs-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112216733.cms">Akums Drugs IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-market-records-8-growth-in-q2-2024-samsung-takes-the-top-spot/articleshow/112223188.cms">Global smartphone market records 8% growth in Q2 2024, Samsung takes the top spot</a> <a href="https://www.businessinsider.in/stock-market/webstories/ola-electric-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112185870.cms">Ola Electric IPO – Price band to risk factors, all you need to know</a>

Maruti Suzuki, Tata Motors, Hyundai and other automakers report a decline in sales in July 2024

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Tata Electronics, PSMC conclude pact for ₹91,000 crore Dholera chip manufacturing unit

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Ford is returning to India, expresses intent to restart its Tamil Nadu plant for exports

Sourabh Jain

Maruti Suzuki, Tata Motors, Hyundai and other automakers report a decline in sales in July 2024

Sourabh Jain

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