Stock Markets35 minutes ago (Mar 03, 2022 02:15AM ET)
© Reuters. FILE PHOTO: A Renesas Electronics Corp’s chip is pictured at the company’s office in Tokyo, March 21, 2013. REUTERS/Yuya Shino
TOKYO (Reuters) – Japanese chipmaker Renesas Electronics Corp announced on Thursday it will set up a design centre with India’s Tata Elxsi Ltd to jointly develop electric vehicle (EV) technology as appetite for the EV market continues to grow.
The centre in Bangalore will be a new hub for the two companies to develop crucial EV systems, such as battery management systems and motor control units.
In a statement announcing the move, Renesas Electronics said that it will strive to provide practical solutions sought by the EV market, and hopes to eventually spread the rewards of the development partnership across the globe.
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