Digital technology multinational Cisco is setting up a manufacturing base in India as it targets $1bn in exports and production in the country over the coming years, according to a company release on May 10.

Part of Cisco’s strategy to create a more resilient global supply chain, the facility will make products which support services such as cloud computing and serve growing demand from customers in India. It will also be involved in testing, development, logistics and expanding repair operations. The new manufacturing capabilities will complement Cisco’s R&D centre in India, which is its second largest outside the US.

The investment was announced by Cisco chairman and CEO Chuck Robbins in New Delhi, following a meeting with prime minister Narendra Modi. "Fuelled by a rapidly developing digital economy, India is a focal point of innovation and business for Cisco, and we remain deeply committed to our partnerships here,” Mr Robbins said.

Chinese greenfield FDI overtakes M&A in Europe

Greenfield FDI by Chinese investors has overtaken mergers and acquisitions (M&A) into Europe for the first time since 2008, according to a study by MERICS and Rhodium Group published on May 9.

Driven by electric vehicle battery factories, Chinese greenfield investment in Europe increased by 53% in 2022, the joint study found. Data from fDi Markets suggests an even bigger increase of 180% of Chinese capital investments into Europe last year. This has occurred in parallel with a downturn in M&A activity which peaked in 2016.

Chinese battery giants, such as CATL, Envision and Svolt, rank among the top five investors, having committed billions to building battery plants in Hungary, France, Germany and the UK. Meanwhile, Tencent’s purchase of UK video game developer Sumo Digital was the only one acquisition that exceeded €1bn, the study said.

Masdar chooses Octopus platform to manage battery storage

Abu Dhabi’s state-owned renewables developer Masdar is set to use UK renewable energy group Octopus’s technology platform Kraken to manage its battery storage portfolio in the UK, according to a joint announcement on May 10.

With the help of Kraken, Masdar will be able to control and optimise the performance of its batteries in real time. Kraken is currently contracted to manage more than five gigawatts (GW) across 38,000 green energy assets in 10 countries with a target of increasing this to 6GW by the end of 2023. Masdar and Octopus Energy will also assess the possibility of collaborating on renewable energy generation projects.

This follows Masdar’s commitment to invest £1bn in UK battery storage in March which, in turn, came in the wake of its acquisition of energy platform Arlington Energy last year.

And finally: Amazon is to receive $1bn in tax breaks for data centre projects in Oregon, the Associated Press has reported.