Japanese Semiconductor Firm Bonds With India's Tata Motors For Advanced Chip Solutions

Author: Anusuya Lahiri | June 29, 2022 07:23am

Renesas Electronics Corp (OTC:RNECY), a premier supplier of advanced semiconductor solutions, collaborated with Tata Motors Ltd (NYSE:TTM) and Tejas Networks Ltd. (Tejas), both Tata Group companies.
The partnership builds on their longstanding relationship as technology and business partners.
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Renesas, with deep expertise in semiconductor technology, will partner with TML to accelerate the development of electric and connected vehicles.
Renesas and TML will explore a non-exclusive partnership on emerging technologies like ADAS.
Renesas will collaborate with Tejas to implement next-generation wireless network solutions, including designing and developing semiconductor solutions for radio units (RU) used in telecom networks, from 4G to 5G, to open radio access network (O-RAN).
The companies aim to roll out products and solutions initially for India and seek to expand its footprint in the global markets.
Additionally, Renesas and Tata Consultancy Services Limited (TCS), a company of Tata Group, will jointly form a Joint System Solution Development Center in Bangalore.
The planned innovation center will focus on comprehensive system solutions for the IoT, Infrastructure, Industrial and Automotive segments.
The global semiconductor industry continues to battle a severe chip crisis due to supply chain constraints further vandalized by the pandemic.
China's covid outbreak shattered the supply chain ecosystem leaving companies struggling to procure chips to meet the rising demand for smartphones, PCs, laptops, and other gadgets as the world moved online due to the pandemic. The car companies suffered as chipmakers focused on smartphones and PC chips.
Countries from the U.S., Europe, and Asia agreed to subsidize chip plants to gain self-sufficiency in chip production.
Price Action: TTM shares closed lower by 0.53% at $26.24 on Tuesday.
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