{"id":343904,"date":"2023-07-10T13:39:00","date_gmt":"2023-07-10T13:39:00","guid":{"rendered":"https:\/\/haftavasool.com\/haftavasool\/blog\/2023\/07\/10\/foxconn-quits-19-billion-partnership-with-vedanta-explained-in-5-points\/"},"modified":"2023-07-10T13:39:00","modified_gmt":"2023-07-10T13:39:00","slug":"foxconn-quits-19-billion-partnership-with-vedanta-explained-in-5-points","status":"publish","type":"post","link":"https:\/\/haftavasool.com\/haftavasool\/blog\/2023\/07\/10\/foxconn-quits-19-billion-partnership-with-vedanta-explained-in-5-points\/","title":{"rendered":"Foxconn Quits $19 Billion Partnership With Vedanta: Explained In 5 Points"},"content":{"rendered":"

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\"Foxconn<\/div>\n

Vedanta and Foxconn had signed agreements in September 2022 to invest $19.5 billion<\/p>\n<\/div>\n

New Delhi: <\/b>
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tTaiwan’s Foxconn has withdrawn from a $19.5 billion chip-making joint venture with Vedanta. Both have no prior semiconductor experience or technology, and were expected to source it from a technology partner, Union Minister Rajeev Chandrasekhar said. \t\t\t\t\t\t\t\t\t\t<\/p>\n

A 5-point explainer on the now-scrapped Vedanta-Foxconn JV<\/h2>\n
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  1. \n

    Vedanta and Foxconn had signed agreements in September 2022 to invest $19.5 billion to set up semiconductor and display production plants in Gujarat, the home state of Prime Minister Narendra Modi.<\/p>\n<\/li>\n

  2. \n

    In May this year, the joint venture was reported to be “struggling” to tie up with a technology partner since Foxconn and Vedanta had no semiconductor experience.<\/p>\n<\/li>\n

  3. \n

    Vedanta-Foxconn got on board STMicro for licensing technology, but the government had made clear it wants the European chipmaker to have “more skin in the game”, such as a stake in the partnership, news agency Reuters reported in May.<\/p>\n<\/li>\n

  4. \n

    The capital markets regulator SEBI last month fined Vedanta for breaching disclosure rules by publishing a press statement that made it appear it partnered with Foxconn to make semiconductors in India, as the deal was with Vedanta’s holding company.<\/p>\n<\/li>\n

  5. \n

    The joint venture comes to an end. Vedanta said it is committed to its semiconductor project and has lined up other partners to set up India’s first foundry.<\/p>\n<\/li>\n<\/ol>\n

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    [ad_1] Vedanta and Foxconn had signed agreements in September 2022 to invest $19.5 billion New Delhi: Taiwan’s Foxconn has withdrawn from a $19.5 billion chip-making joint venture with Vedanta. Both have no prior semiconductor experience or technology, and were expected to source it from a technology partner, Union Minister Rajeev Chandrasekhar said. A 5-point explainer […]<\/p>\n","protected":false},"author":1,"featured_media":343905,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[280298,411193,411192],"_links":{"self":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/posts\/343904"}],"collection":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/comments?post=343904"}],"version-history":[{"count":0,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/posts\/343904\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/media\/343905"}],"wp:attachment":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/media?parent=343904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/categories?post=343904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/tags?post=343904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}