Vedanta-Foxconn’s chip making ambitions have hit a speed bump

The Vedanta-Foxconn semiconductor consortium’s discussions with STMicroelectronics for inducting the European company as a technology partner have got stuck due to lack of agreement on finer details of technology transfer, the duration of the partnership and the funds to be invested by each company, multiple people aware of the situation told ET.

One key sticking point is that STMicroelectronics wants to limit the scope of the technology transfer as well as have a sunset clause regarding the duration of the joint venture, said a person close to the development.