Three contract manufacturers for Apple iPhones and South Korea’s Samsung have applied for large-scale electronics manufacturing rights in India under a $6.5 billion incentive scheme announced by the government, a minister said Saturday.

The scheme will extend cash incentives of 4-6% for five years on incremental sales of goods manufactured in India with 2019-2020 as the base year, Technology Minister Ravi Shankar Prasad told reporters.

The international cellphone manufacturing companies that have applied under the scheme are Samsung, Rising Star and three Apple contract manufacturers — Foxconn Hon Hai, Wistron and Pegatron.

Prasad said the scheme is expected to increase Apple’s and Samsung’s manufacturing base manifold in India.

Nearly two dozen Indian and international companies in the cellphone segment have applied for the scheme, which is expected to generate 300,000 direct jobs in the country, Prasad said.

source:AP

 

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Tesla's mercurial co-founder and CEO, Elon Musk, has revealed that he is open to the idea of sharing the company's electric vehicle technology and manufacturing capabilities with its competitors. Responding to a tweet by Teslarati, the billionaire tweeted, " Tesla is open to licensing software and supply powertrains and batteries. We're just trying to accelerate sustainable energy, not crush the competition."

In addition to the tweet, Musk also indicated that he would be even open to the idea of sharing Tesla's self-driving car technology called "Autopilot". Replying to a follower on the same Twitter thread, he cryptically responded "sure".

Musk has already pledged that Tesla will open-source all its patents. He views the use of sustainable energy as a critical tipping point against the battle for climate change. Musk has continuously reiterated this stance. He initially penned a blog post on Tesla's website back in 2014.

Tesla even managed to book a profit of $104 million in Q2 of 2020 despite lockdowns at its manufacturing facility with its core market of the US, being the worst impacted country by the coronavirus pandemic. It also marked the first time Tesla had booked a profit for four quarters in a row.

 

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