Vedanta ropes in veteran David Reed as CEO to drive chip biz

The semi-conductors will be manufactured in joint venture with Taiwanese electronics company Foxconn. Vedanta holds a 63 per cent interest and the remaining is with Foxconn in the joint venture.

DT NEXT Bureau

Updated:7th Feb, 2023 at 6:51 AM

BENGALURU: Anil Agarwal-led Vedanta Ltd on Monday named industry veteran David Reed to head its semi-conductor unit where it is looking to invest $20 billion to manufacture chips essential for mobile phones to laptops and TV sets.

Agarwal said the group is looking to start manufacturing semiconductors at Dholera in Gujarat in 2-3 years. “We will start with $5 billion investment and scale it up as years go by,” he said.

The semi-conductors will be manufactured in joint venture with Taiwanese electronics company Foxconn. Vedanta holds a 63 per cent interest and the remaining is with Foxconn in the joint venture.

The company plans to initially produce 40,000 wafers a month.

Before joining Vedanta, Reed was with NXP Semiconductors, where he was executive vice president and general manager of global operations.

Vedanta ropes in veteran David Reed as CEO to drive chip biz

The semi-conductors will be manufactured in joint venture with Taiwanese electronics company Foxconn. Vedanta holds a 63 per cent interest and the remaining is with Foxconn in the joint venture.

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