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.