New Delhi, April 8 (SocialNews.XYZ) Tata Group, which acquired Taiwanese electronics manufacturer Wistron's India operations for $125 million in October last year, is now reportedly eyeing to acquire Pegatron's iPhone manufacturing facility near Chennai, as Apple ramps up its presence in the country.
According to a Reuters report, citing sources, the Tata Group may hold a 65 per cent stake in a "joint venture" to operate the Pegatron plant, for which talks are in an "advanced stage".
The company plans to operate the JV via its Tata Electronics unit, the report claimed.
Pegatron’s India plant has nearly 10,000 employees, and the company manufactures iPhone 13 and 14 devices.
Pegatron, Tata Group, or Apple did not immediately comment on the report.
Reports surfaced in December last year that the Tata Group is planning to build one of India's largest iPhone assembly plants in Tamil Nadu's Hosur. The facility is expected to feature around 20 assembly lines and employ 50,000 workers within two years. It is expected to be operational within 12 to 18 months.
Tata now operates the iPhone manufacturing plant in Karnataka, which it has purchased from Wistron.
Apple is aiming to manufacture more than 50 million iPhones in India per year, as it aims to shift some of the production out from China.
A slew of initiatives by the government have fuelled the growth of manufacturing facilities, with its Production Linked Incentive (PLI) scheme for smartphone production, allowing Indian companies to compete with global electronics makers based in China. According to industry experts, India stands out as a potential hub for production amid escalating US-China tensions, owing to its substantial internal market and skilled labour force.
Source: IANS
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