Renesas Electronics surpassed 1,000 employees in India as it scales regional operations. The company will open a new facility in Pune by the end of the year to focus on automotive solutions. This office joins existing sites in Hyderabad, Bengaluru, and Noida.
The expansion targets cost-effective semiconductors for Indian electric two- and four-wheelers. Separately, Wolfspeed finalized its post-bankruptcy capital structure by issuing 16.8 million shares to Renesas Electronics America. The deal settles a Forward Equity Contract and provides Renesas with convertible notes, warrants, and board representation.