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Lithuania’s Teltonika signs an Agreement with Taiwanese Partners on Semiconductor Technologies

<strong>Lithuania’s Teltonika signs an Agreement with Taiwanese Partners on Semiconductor Technologies</strong>

Lithuanian tech firm Teltonika signed a cooperation agreement with Taiwan’s Industrial Technology Research Institute, giving the Lithuanian company access to semiconductor manufacturing technologies.

The agreement entitles Teltonika to obtain licences for semiconductor chip manufacturing technologies and devices developed by ITRI. It also ensures that the company group will get assistance in preparing detailed plans and engineering training for employees. 

The contract between ITRI and Teltonika is valued at €14 million, of which €10 million will come from Taiwan’s Ministry of Foreign and another €4 million from the Teltonika company group. The project’s total value will be finalised after more detailed calculations during the preparatory phase and after assessing the investment needed for the installation of infrastructure and the construction of factories for the semiconductor chip industry.  

”We have the potential to establish ourselves in the global semiconductor market, and this partnership with Taiwan will help Lithuania to move forward rapidly, match the world’s strongest players and realise its ambitious goals,” said Aušrinė Armonaitė, Minister of the Economy and Innovation.

“This is a truly historic event for Lithuania, as it will be the largest ITRI cooperation project with a foreign country in its 50-year history. I am thankful to the Government of Taiwan for its confidence in us and to the Lithuanian politicians for their support in the negotiations. This agreement proves that we are reliable partners capable of developing such complex projects. I believe that by implementing the planned works, we will help Lithuania to break through alongside the most advanced countries in the world,” said Arvydas Paukštys, founder and president of the Teltonika company group.   

Teltonika is a fast-growing Lithuanian hi-tech company with offices in 20 countries around the world, employing around 2,500 people. The company is known for its unique IoT products made in Lithuania and aims to become a global leader in the design and manufacture of unique IoT solutions.

In November, Lithuania has officially opened its trade office in Taipei. The opening has coincided with another long-awaited event – the official announcement of the first investment by the Central and Eastern European Investment Fund, Taiwania Capital, established by Taiwan in spring to boost CEE and Taiwan cooperation, including through joint ventures, investment projects, and start-ups in high-tech.