RENESAS ELECTRONICS
Price wars hurt payment firms; CG Power’s fab play falters
Happy Friday! Payment aggregators are slashing fees to stay in the game. This and more in today’s ETtech Morning Dispatch.
CG Power’s chip plans rocked by turmoil at wafer company Wolfspeed
The potential bankruptcy of American Silicon Carbide (SiC) wafer maker Wolfspeed could have ripple effects on India's semiconductor ecosystem, particularly Murugappa group-owned CG Power's upcoming chip facility in Sanand.
TSMC declined India’s invitation to set up plant: Report
Taiwan Semiconductor Manufacturing Company declined India's plant invitation. India then partnered with Powerchip Semiconductor Manufacturing Corporation. They will build a wafer plant with Tata Electronics. TSMC is expanding in the US, Japan, and Germany. India is progressing towards chip manufacturing. Six chip fabrication facilities are approved. HCL and Foxconn have a joint venture.
New chip on the block: UP will host HCL-Foxconn JV
The Rs 3,706 crore HCL-Foxconn OSAT joint venture, approved by the Cabinet, will set up a semiconductor packaging facility in Jewar, Uttar Pradesh, to produce display driver chips. As India’s sixth semiconductor unit, it boosts localisation in smartphone manufacturing and marks a major milestone under the India Semiconductor Mission.
New chip on the block: Uttar Pradesh to host HCL-Foxconn JV
India's smartphone manufacturing gets a boost. HCL and Foxconn are partnering for a semiconductor assembly and test unit. The plant will be in Uttar Pradesh. It will produce display driver chips. This move supports India's localization efforts. The unit aims to meet a significant portion of India's display driver demand. Production is expected to start in 2027.
HCL-Foxconn plant cleared; Airbnb’s India play
The Union Cabinet has cleared the sixth chipmaking facility under the India Semiconductor Mission. This and more in today’s ETtech Top 5.
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HCL-Foxconn chip plant approved: A look at six semiconductor facilities across India
Three of these semiconductor facilities are based in Sanand, Gujarat. A fourth is coming up in Dholera, Gujarat, and a fifth in Assam. The recently approved unit is being jointly built by HCL Group and Foxconn near the upcoming Jewar airport in Yamuna Expressway Industrial Development Authority (YEIDA).
Renesas-CG Power venture likely to roll out first chip by mid-2026, says Hidetoshi Shibata
Japanese firm Renesas Electronics, which supplied components for Chandrayaan-3, expects its chip assembly venture with Murugappa group's CG Power to roll out its first chip by mid-2026. Mass production is slated for 2027 in Sanand. Renesas is also working on collaboration with other Indian partners and expanding its Bengaluru and Noida centres.
Tesla wants India to chip in with integral parts supply
Electric vehicle giant Tesla is in talks with US chipmaker Micron and Indian firm CG Semi to source semiconductor components. This follows a strategic deal with Tata Electronics to procure chips for its global operations.
South Korea, Taiwan copy Japan’s dribbles in India semiconductor play
Suzuki went on to add that as per the organisation’s survey, the US' FDI investments in India went up from 11 between the period of 2017 to 2020 to 30 between the period of 2021 to 2024, a 172% growth rate. In contrast, Japan's FDI investments in India increased from one between 2017 to 2020 to eight between 2021 to 2024 -- marking a 700% increase -- the highest growth rate amongst other countries.
Japan's Nikkei closes near 8-month low on US tariff jitters
Japan's Nikkei share average closed near an eight-month low on Monday, following sharp losses on Wall Street in the previous session, as investors assessed the risk of imminent U.S. trade tariffs.
Japan's Nikkei rises on Wall Street gains, despite firm yen
Japan's Nikkei share average rose 0.6% to 39,066.53 on Thursday, boosted by gains in Wall Street and strong U.S. tech shares. Expectations of future rate hikes by the BOJ appreciated the yen, impacting exporter shares. Renesas Electronics surged 12.6%, and Honda slid 4%.
Jacobs awarded CG Semi contract for engineering design of OSAT facility in Sanand
CG Semi is a joint venture between CG Power, Renesas Electronics Corporation, and Stars Microelectronics (Thailand). Jacobs said it will serve as the engineering, procurement and construction services (EPCS) partner on the Mini Line, and engineering partner on the Main Line.
NXP to invest over $1 billion in R&D in India over next few years, says company at Semicon India 2024
NXP Semiconductors plans to invest over USD 1 billion to double its R&D activities in India. The company aims to enhance its presence in the automotive and industrial sectors. NXP has been in India for 50 years and employs around 3,000 people. Renesas Electronics and Tata Electronics also announced significant expansions in India.
Five approved semiconductor units across India and projects in pipeline
The India Semiconductor Mission (ISM) has approved five semiconductor units that will each receive subsidies from both central and state governments.
Japan's Nikkei tracks Wall Street lower; chip gains cap losses
Japan's Nikkei fell 0.16% to 40,063.79, dipping below the 40,000 psychological mark. Topix dropped 0.27% to 2,860.83. Semiconductor stocks rebounded post-TSMC earnings, with Tokyo Electron and Advantest rising. Renesas Electronics increased 3.6%. U.S. stock declines affected sentiment. Disco fell 4.6%. Namioka anticipates a rebound. Thursday saw a 2% decline, with 159 constituents dropping, and strong revenue is expected.
First chip from Tata's Dholera plant will be out in December 2026: Ashwini Vaishnaw
Prime Minister Narendra Modi on Wednesday laid the foundation of three chip plants -- two units by Tata Electronics and the third by CG Power -- entailing total investment of Rs 1.26 lakh crore.
CG Power and Industrial Solutions to form JV for OSAT facility in India
CG Power and Industrial Solutions, Renesas, and Stars Microelectronics signed a Joint Venture Agreement to establish an Outsourced Semiconductor Assembly and Test facility in Sanand, Gujarat, India. The facility will manufacture a wide range of products and cater to various industries.
CG Power shares surge 11% after government’s nod to semi-conductor facility
Shares of CG Power and Industrial Solutions rose 12% after announcing a JV with Renesas Electronics and Stars Microelectronics to build a semiconductor facility in Sanand, Gujarat. The JV will invest Rs 7,600 crore over five years and aims to diversify into semiconductor manufacturing, leveraging the partners' technology and expertise.
PM Modi meets CEO of Japanese semiconductor firm, discusses tech
In March, the PM met NXP's President and Chief Executive Officer Kurt Sievers. They discussed the transformative landscape present in the semiconductors and innovation world.
Japan's Renesas, Tata Motors partner to develop chip solutions
Renesas will work with Tata group firm Tejas Networks to make products initially destined for India and eventually global markets
Honda to suspend three Japanese plants in May due to chip shortage
Honda will suspend two plants in Saitama Prefecture for six days and its Suzuka plant in Mie Prefecture for five days, a spokesman said. The suspension is due to a chip shortage caused by various factors, he added.
Japanese shares tumble after chip plant fire, car makers hit
The Nikkei continued to underperform the broader market, after the Bank of Japan said on Friday it would no longer purchase Nikkei-linked exchange traded funds (ETFs).
Nikkei rallies on short-covering, off five-week lows
The Nikkei share average ended 2.15 per cent higher at 21,428.39.
Japan stocks rise on weaker yen, Nasdaq gain; US deal lifts Renesas
The yen's depreciation is the key driver, with gains by the S&P 500 and Nasdaq providing additional support
Nikkei hit by trade tensions; Renesas Electronics tumbles
The Nikkei share average shed 0.7 per cent to 22,707.38.
Toyota Motor sees production restored by December
The automaker will begin raising production to regular levels from July in Japan and from August at overseas plants, the company said.
‘We will develop products for India onsite’
Our growth strategy is based on reinforcement of overseas business, says Akao.
Nokia to sell wireless modem biz for $200 mn
Nokia will sell its wireless modem business to Japan's Renesas Electronics Corp for about $200 million, as part of the Finnish cell phone maker's strategy to focus on its core businesses.
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