Tata and Analog Devices Announce Strategic Alliance to Explore Joint Opportunities for Semiconductor Ecosystem in India
PRNewswire 18-Sep-2024 10:00 AM
MUMBAI, India and WILMINGTON, Mass., Sept. 18, 2024 /PRNewswire/ -- Tata Group, a global enterprise headquartered in India, and Analog Devices, Inc. (Nasdaq: ADI), a global semiconductor leader, today announced a strategic alliance to explore potential cooperative manufacturing opportunities.
Tata Electronics, Tata Motors, and Tejas Networks signed a Memorandum of Understanding (MoU) with ADI to enhance strategic and business cooperation, explore opportunities for semiconductor manufacturing in India, and use ADI's products in Tata applications like electric vehicles and network infrastructure. The companies also agree to have strategic roadmap alignment discussions.
The joint effort is expected to be mutually beneficial and is a significant step in establishing a robust electronics manufacturing ecosystem in India both for domestic and global consumption.
N Chandrasekaran, Chairman of Tata Sons, said, "The Tata Group is deeply committed to pioneering a thriving semiconductor industry in India. We are excited to partner with ADI across the semiconductor value chain and explore collaboration between ADI and Tata Group companies to design and offer advanced products to serve our customers."
"At ADI, we are thrilled to join efforts with the Tata Group in advancing India's semiconductor ecosystem. This joint effort aligns with our commitment to innovation and sustainable growth in the region. By combining our real-world semiconductor solutions and software expertise with Tata's vision and capabilities, we can accelerate the development of cutting-edge technologies, from electric vehicles to next-generation network infrastructure. Together, we are not only building a stronger semiconductor ecosystem but also shaping the future of global electronics manufacturing," said Vincent Roche, CEO and Chair at ADI.
As previously announced, Tata Electronics is investing in its own facilities by building India's first fab in Dholera, Gujarat with a total investment of $11 billion. In addition, Tata Electronics will be investing another $3 billion in a greenfield facility in Jagiroad, Assam for the assembly and testing of semiconductor chips.
Tata Electronics and ADI intend to explore opportunities to manufacture ADI's products in Tata Electronics' fab in Gujarat and OSAT in Assam. Tata Motors and ADI intend to explore opportunities for engagement in electronics hardware components for energy storage solutions and power electronics in both commercial and passenger vehicle businesses. Tejas Networks and ADI intend to explore opportunities for engagement in electronics hardware components for network infrastructure.
About the Tata Group
Founded by Jamsetji Tata in 1868, the Tata Group is a global enterprise headquartered in India, comprising 30 companies across ten verticals. The group operates in more than 100 countries across six continents, with a mission "To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust."
Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six percent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation and art and culture.
In 2023-24, the revenue of Tata companies, taken together, was $165 billion. These companies collectively employ over 1 million people.
Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 26 publicly listed Tata enterprises with a combined market capitalisation of $365 billion as of March 31, 2024.
About Analog Devices, Inc.
Analog Devices, Inc. (NASDAQ: ADI) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, and software technologies into solutions that help drive advancements in digitized factories, mobility, and digital healthcare, combat climate change, and reliably connect humans and the world. With revenue of more than $12 billion in FY23 and approximately 26,000 people globally working alongside 125,000 global customers, ADI ensures today's innovators stay Ahead of What's Possible. Learn more at www.analog.com and on LinkedIn and Twitter (X).
For more information, please contact:
Tata Group | harsha.r@tata.com and pooja.rajput@adfactorspr.com
ADI | CorpComm@analog.com and Investor.Relations@analog.com
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SOURCE Analog Devices, Inc.
