Homegrown Optiemus Electronics Limited (OEL) announced a strategic partnership with Taiwanese manufacturing giant Wistron for manufacturing electronics products in India. Both companies were among the first to be approved under the government’s new 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,” David Shen, President and CEO of Wistron Smart Devices said.
Gururaj noted that unlike global companies like Wistron, Foxconn and Pegatron, Indian manufacturers do not get PLI benefits on phones priced above Rs. 15000 only. As a result, Wistron can pass on orders for such devices to Optiemus’ plants. He also said that the companies will use the partnership to produce IT hardware products, like laptops, and automotive products to electric vehicles (EVs).
Optiemus will be investing Rs 1350 crore in the market in the next three to five years, in order to increase capacities in its plants. Gururaj told Mint that the company’s plants are set up for mobile manufacturing right now but is setting up for laptops right now. It also announced a tie up with homegrown Noise earlier, to start making wearables for the company in its plants.
OEL plans to touch revenues of Rs. 38,000 crores 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 reach around 11000 employees. Gururaj also said that 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.