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Foxconn, STMicroelectronics collaborate for Semiconductor Factory in India
Industry News- Sep 08,23
By collaborating with STMicro, Foxconn, a contract manufacturer, is leveraging the expertise of a semiconductor industry pioneer to expand its presence in the highly competitive but challenging semiconductor sector.
Foxconn Technology Group and STMicroelectronics NV are joining forces in a bid to establish a semiconductor factory in India, as they seek state support to expand their presence in the South Asian nation.
Sources familiar with the matter, who preferred to remain anonymous as the plan has not yet been made public, indicate that Foxconn, based in Taiwan, and the Franco-Italian company STMicroelectronics are seeking state assistance for the construction of a 40-nanometer chip manufacturing facility. Such advanced chips are used in a wide range of applications, including automobiles, cameras, printers, and various other devices.
This move comes in the wake of Foxconn's unsuccessful attempt to partner with billionaire Anil Agarwal's Vedanta Resources, which yielded minimal progress over a year. By collaborating with STMicro, Foxconn, a contract manufacturer, is leveraging the expertise of a semiconductor industry pioneer to expand its presence in the highly competitive but challenging semiconductor sector.
The previous failure of Foxconn's venture with Vedanta, a metals company, underscores the formidable challenges of establishing new semiconductor plants. These massive complexes require billions of dollars in investment and demand highly specialised expertise for successful operation. Both Foxconn and Vedanta lacked significant prior experience in chip manufacturing, and their joint venture was hindered by delays in securing a partner with production-ready chip technology and obtaining state subsidy approvals.
New Delhi has reportedly requested more details from Foxconn, renowned for its role as Apple Inc.'s primary assembly partner, regarding its partnership with STMicro. Furthermore, Foxconn is said to be engaged in discussions with several other companies possessing chip-making technology, according to one of the sources.
As of now, there has been no response from India's technology ministry, and both Foxconn and STMicro spokespersons have declined to comment on the matter.
Source: Business Standard
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