Mumbai: Tesla has struck a strategic deal with Tata Electronics to acquire semiconductor chips for its global operations, The Economic Times reported, citing sources.
Executed discreetly a few months ago, this agreement is noteworthy as it positions Tata Electronics as a dependable supplier for prominent global clients aiming to establish a crucial segment of their semiconductor value chain in India, the report claimed.
Details regarding the value of the sourcing deal between Tesla and Tata Electronics, along with other specifics, remain undisclosed.
The US-based electric vehicle (EV) giant is eager to penetrate India, the world’s fastest-growing major automotive market. Elon Musk, the driving force behind Tesla, is scheduled to visit India this month for discussions with Prime Minister Narendra Modi. During his visit, Musk is expected to unveil potential investments in India, including commitments to EV manufacturing facilities. Tesla currently holds the title of the world’s most valuable automotive company.
