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Tata Electronics is set to acquire a stake in Pegatron's iPhone manufacturing facility in Tamil Nadu.

Economy Business | Dated: 10 Dec 2024

Tata Electronics Private Limited (TEPL) has acquired a 60% stake in Pegatron's (a Taiwanese contract manufacturer) iPhone plant in Chennai, Tamil Nadu, forming a Joint Venture (JV).

🎯 Key Highlights:

  • - TEPL will own 60% and handle daily operations, while Pegatron will hold a 40% stake and provide technical support.

💡 Other Important Facts:

  • (i) The companies plan to get approval from the Competition Commission of India (CCI). TEPL already runs an iPhone assembly plant in Karnataka and is building another one in Hosur, Tamil Nadu.
  • (ii) This deal strengthens Tata's position as an Apple supplier and aims to boost iPhone production in India, as Apple looks to diversify its supply chain.
  • (iii) iPhones are made in India by three manufacturers: Foxconn, Pegatron Corporation, and Tata Group (previously Wistron Corp).

📚 Test Your Knowledge:

Recently, which company is set to acquire a stake in Pegatron's iPhone manufacturing facility in Tamil Nadu?

Correct Answer: Tata Electronics

🚀 Quick Recap: