L&T Semiconductor to sign contracts with 6 automobile companies by Sept

L&T Semiconductor Technologies will sign contracts with six automobile companies by the end of September, making them its first clients, the company’s chief executive said on Tuesday.

The total value of the contracts is $150 million per year, CEO Sandeep Kumar told Reuters in an interview.

The chip-design unit of India’s biggest infrastructure firm Larsen and Toubro was set up in November 2023, with an investment of $100 million from its parent. The company currently does not generate revenue.