PremiumNEW DELHI: Homegrown Optiemus Electronics Limited (OEL) announced a strategic partnership with Taiwanese manufacturing giant, Wistron, for manufacturing electronics products in India. The companies were among the first to be approved under the government’s Production Linked Incentive (PLI) scheme for mobile and electronics manufacturing in India.
A. Gururaj, managing director of OEL, said the deal will allow Wistron to take advantage of the company’s plants in Noida to manufacture products.
“PLI will be a key enabler to bridge any gaps in developing the ecosystem for the next decade. It is time to extend our support to our Indian Partner as we embark on a wonderful and exciting journey together," said David Shen, president and CEO of Wistron Smart Devices.
Gururaj said unlike global companies like Wistron, Foxconn and Pegatron, Indian manufacturers do not get PLI benefits on phones priced above Rs15,000. As a result, Wistron can pass on orders for such devices to Optiemus’ plants. He said the companies will use the partnership to produce IT hardware products, like laptops, and automotive products to electric vehicles (EVs).
Optiemus will invest Rs1,350 crore in the market in the next three to five years to increase capacities in its plants. Gururaj told Mint that the company’s plants are set up for mobile manufacturing and are now preparing to begin manufacturing laptops. It had announced a tie up with homegrown Noise earlier, to start making wearables for the company in its plants.
OEL plans to touch revenues of Rs38,000 crore in multiple product segments in the next three to five years. The company also said it plans to ramp up manpower in its plants to 11,000 employees. Gururaj said the company is in “active discussions" with large customers in wearables and mobile phone space and has also been speaking to prospective partners about EV manufacturing.
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