Taiwan Hon Hai Group announced his withdrawal with Weidanta, India Vendana, IndiaThe semiconductor joint venture consisting of Vedanta Group, but emphasized that Hon Hai still supports the Indian government's "Indian manufacturing" vision and is confident in the Indian semiconductor industry.
Comprehensive Reuters, Taiwan Central News Agency and Economic Daily reported that Hon Hai Group issued a statement on Monday (July 10) to announce the above news.
Hon Hai said that the joint venture company of Hon Hai and Weidanta Group in the past will be completely renamed by Venta 100%in the future. Hon Hai and this joint venture legal person have nothing to do.Hon Hai has also officially notified Wenda Tower to remove the name of Hon Hai, the joint venture company to avoid confusion to the relevant interests of the two parties in the future.
Hon Hai said that in the past year, I have worked with Weidanta to achieve a common semiconductor concept in India.Diverse development opportunities, according to the agreement between the two parties, Hon Hai will no longer participate in the operation of the joint venture between the two parties. "
The statement emphasizes that Hon Hai will continue to vigorously support the Indian government's "Indian manufacturing" vision and establish a partnership with more diverse and meet the needs of interest relations.confidence.
Before the above -mentioned announcement of Hon Hai, the Indian Wedana Group, which started with mining, has issued a statement on the 7th, saying that through its holding company to take over the ownership of the company's joint venture with Hon Hai.
The two sides have not specifically explained the reason for Hon Hai's withdrawal, but a source revealed that the reason why Hon Hai quit was because he was worried that the Indian government's subsidy approval procedure would be delayed.At present, the Indian government still holds some doubts about the cost estimation of Hon Hai and Wenda's joint venture chip factory.
Hon Hai Group announced in September last year that it signed a memorandum of cooperation with Wenda Tower to jointly set up a semiconductor wafer fab and produce semiconductors in India.The preliminary plan is that the two companies have a joint venture of US $ 19.5 billion (about S $ 26.2 billion). The 28 -nanometer 12 -inch wafer fab is built in India. It is expected to be put into operation in 2025.
But according to Indian media reports, the joint venture company has made a slow progress due to the lack of technical partners, and the reward and subsidy application is also submitted by the Indian government as required by the new evaluation conditions.
Reuters reports that Indian Prime Minister Modi has regarded chip manufacturing as the top priority of India's economic strategy. Hon Hai withdrew from the joint venture plan, which is a blow to Modi's chip manufacturing layout.Essence
