Motherson Samvardhana Sumi Group is looking for a global partner to help them break into the semiconductor industry.
With 29 separate joint ventures, the Indian conglomerate has already purchased 300 acres on the outskirts of Chennai to aid the government’s Make in India initiative and establish skills in an industry that contributes considerable content to each new-generation car. As part of its capex strategy, the company intends to invest $1 billion over the next three years.
Samvardhana Motherson’s vice-chairman, Laksh Vaaman Sehgal, explained that getting into semiconductor production requires a significant investment, thus the business would not enter the market on its own and is looking for a partner.
