Taipei, Jan. 18 (CNA) Taiwan-based manufacturing giant Hon Hai Precision Industry Co., also known as Foxconn on the global market, announced a semiconductor packaging and testing service joint venture in India on Wednesday.In a statement posted on the Taiwan Stock Exchange, where Hon Hai shares are traded, the iPhone assembler said its subsidiary Foxconn Hon Hai Technology India Mega Development Private Ltd. has teamed up with India's HCL Group to set up the semiconductor joint venture.By investing US$37.20 million, the Hon Hai subsidiary secured a 40 percent stake in the outsourced semiconductor assembly and test (OSAT) joint venture, which has set its sights on the semiconductor market in India, the Taiwanese company said.An OSAT service provider packages, assembles and tests wafers rolled out by pure-play wafer foundry operators, turning them into finished semiconductor chips.Through the investment, Hon Hai said it is looking forward to working with HCL, one of the leading software and engineering firms in India, to establish a semiconductor ecosystem in India and expects the cooperation will enhance supply chain resilience in the South Asian country.Hon Hai said it will continue a build-operate-localize (BOL) business model to support communities in India.A report from the business news website Mint cited industry insiders as saying HCL has had semiconductor design and testing software expertise for a long time, and following its existing partnerships with several leading chipmakers, a partnership with Hon Hai made sense for both sides.In early July 2023, Hon Hai announced it had pulled out of a US$19.5 billion joint venture with Indian conglomerate Vedanta Group to make semiconductors in India. According to Indian media reports, the breakup may have been caused by the slow pace at which the joint venture was proceeding.The reports said the project was hindered by a lack of technical partners, and because the Indian government had required the joint venture to resubmit applications for awards and subsidies.While the cooperation with Vedanta fell apart, Hon Hai Chairman Young Liu (劉揚偉) told an investor conference held in mid-November that his company would continue to push for semiconductor investments in India through the BOL business model.To transform itself from a contract electronics manufacturer into a company that is fully able to combine its hardware and software capabilities, Hon Hai has outlined a so-called "3 plus 3" initiative.The name refers to three emerging industries -- electric vehicles, robots and digital health care -- that the company is developing via artificial intelligence, semiconductor, and communication technologies. Electric vehicles are the core business of the initiative, according to Hon Hai.(By Chung Jung-feng and Frances Huang)Enditem/kb (ICE TAIPEI)

Fonte notizia: Organi di Stampa - Focus Taiwan News Channel