As part of the agreement, Tata Electronics will secure a 60 per cent ownership in the Tamil Nadu-based iPhone manufacturing facility, granting it control over daily operations. Pegatron, on the other hand,

India’s Tata Electronics will acquire a majority stake in Taiwanese contract manufacturer Pegatron’s sole iPhone plant in India, which will form a joint venture that bolsters Tata as supplier to Apple (NASDAQ:AAPL),

The acquisition will result in a joint venture, in which Tata will own 60% and Pegatron will have 40% interest.

NEW DELHI — India's Tata Electronics has agreed to buy a majority stake in Taiwanese contract manufacturer Pegatron's only iPhone plant in India, forming a new joint venture that strengthens Tata's position as an Apple supplier,

As Apple diversifies its supply chain beyond China, India is set to produce up to 25 per cent of the iPhones shipped this year.

Tata Electronics secures 60% stake in Pegatrons iPhone plant in Tamil Nadu, enhancing its role as an Apple supplier amid supply chain diversification.

This strategic move follows Tata's acquisition of Wistron's plant in Karnataka Harshvardhan Jaiman Updated : Nov 18, 2024, 11:02 AM IST Tata Electronics is going to buy a majority stake in the iPhone manufacturing plant in Tamil Nadu from Pegatron and will set up a joint venture with Pegatron that will help Tata increase its share in the Apple supplier.

Tata Electronics strengthens its position in iPhone manufacturing by acquiring 60% stake in Pegatrons factory in India, enhancing production capabilities.

This deal will enhance Tata's iPhone manufacturing operations, as the company already operates a plant in Karnataka. Tata will hold a 60 percent stake in the joint venture.

The Chennai plant, which employs around 10,000 workers and manufactures over 5 million iPhones annually, will become Tata’s third iPhone facility in India.