The move comes as a persistent global
shortage of semiconductor chips has hobbled the automotive and electronics
industries, among others, forcing production cutbacks, while highlighting
global dependence on a few sources, such as Taiwan.
Renesas will collaborate with Tata Motors,
India's biggest manufacturer of electric cars, on developing
"next-generation automotive electronics" to accelerate the growth of
electric and connected vehicles, the companies said in a statement.
"The collaboration will accelerate our
presence in these areas in India as well as globally," Natarajan
Chandrasekaran, the chairman of Tata holding company Tata Sons, said.
Areas of collaboration eyed by the firms
include a non-exclusive partnership on emerging automotive technologies, such
as advanced driver-assistance systems (ADAS) as well as wireless network
solutions including 5G.
Here Renesas will work with Tata group firm
Tejas Networks to make products initially destined for India and eventually
global markets.
India is among the countries racing to
subsidise domestic construction of factories that turn out semiconductors and
displays in an effort to minimise supply risks.
Its plan for US$10 billion in incentives
has lured applications from firms such as a joint venture between domestic conglomerate
Vedanta and Taiwan's Foxconn, and Singapore's IGSS Ventures.
Oil-to-metals giant Vedanta plans to invest
US$20 billion for 2 units for chip and display manufacturing while jeweller
Rajesh Exports will invest US$3 billion in an electronic display plant.
India expects the domestic chip market to
reach US$63 billion by 2026 from US$15 billion in 2020. REUTERS
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