- Hindi News
- Business
- Tata To Buy Majority Stake In Pegatron For Its IPhone Plant In Tamil Nadu
Mumbai18 minutes ago
- copy link
Tata Group's Tata Electronics is planning to buy a majority stake in Taiwanese contract manufacturer Pegatron's sole iPhone plant in India. Pegatron has this plant in Tamil Nadu. This will create a new joint venture, which will strengthen Tata's position as an Apple supplier.
According to Reuters report, this deal between the two companies was announced internally last week. Under this deal, Tata will hold 60% stake and will look after the daily operations under the joint venture. Pegatron will hold the remaining stake and provide technical support.
Talks between the two companies are in advanced stage
No specific information is yet known about the financial details of the deal. Earlier, Reuters had reported in April that Pegatron was in advanced stage talks to sell its sole iPhone plant in India to Tata. Amid geopolitical tensions between China and the US, Apple is trying to diversify its supply chain outside China.
Tata Group is expanding manufacturing of iPhone
For Tata, the Chennai Pegatron plant will strengthen its iPhone manufacturing plans. Tata Group is rapidly expanding in the manufacturing of iPhone. Foxconn also manufactures Apple iPhone in India.
According to Reuters, both Tata Electronics and Pegatron are going to apply for the approval of Competition Commission of India (CCI) in the coming days regarding the joint venture.
Tata Group operates iPhone assembly plant in Karnataka
Tata Group currently operates an iPhone assembly plant in Karnataka. Tata Group had purchased this plant from Taiwanese company Wistron last year. Apart from this, there is an iPhone component plant in Hosur, Tamil Nadu. The group is building another plant in Hosur.
Read this news also…
iPhone exports from India worth ₹50,454 crore in 6 months: 33% more than last year, likely to reach ₹84,086 crore by FY25
In the six months between April and September, India has exported 'Made in India' iPhones worth $6 billion (about Rs 50,454 crore). This is 33% more than the same period last year.Read the full news…
Apple will provide 2 lakh jobs in India by March 2025: Of these, about 1.40 lakh will be women, the company and suppliers gave data to the government.
iPhone manufacturing company Apple will provide 2 lakh direct jobs in India by March next year. 70% of these jobs will be for women. Apple and its suppliers in India have given these figures to the central government. Read the full news…
