Tata acquires 60% stake in 2nd iPhone manufacturing plant in India, boosting job creation
Tata Electronics has acquired a 60% stake in Pegatron's iPhone manufacturing plant in Narasapur, Karnataka, marking its second such facility in India. This move strengthens Tata’s electronics manufacturing presence, with plans to create 5,00,000 jobs and expand its semiconductor and technology initiatives.
FollowIn a significant move to expand its presence in the Indian electronics market, Tata Electronics, a division of the Tata Group, has acquired a 60% stake in the Chennai-based Pegatron Technology India Company. This acquisition marks the company's second iPhone manufacturing plant in India, strengthening its position in the growing electronics sector.
Pegatron Technology, a subsidiary of Taiwan's Pegatron Corporation, operates a factory in Narasapur, Karnataka, where it manufactures electronic products on a contract basis for global companies like Apple. By purchasing a majority stake in this factory, Tata Electronics is now directly involved in the production and supply of iPhones and other electronic products for Apple, opening up new business opportunities.
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Although the financial details of the deal have not been disclosed, Tata's move highlights its growing influence in the Indian electronics manufacturing space. Tata Electronics aims to leverage this new acquisition to provide high-quality manufacturing services to both domestic and international clients, in line with the company's vision to drive advancements in AI, digital, and technology-enabled manufacturing in India.
Randhir Thakur, CEO and Managing Director of Tata Electronics emphasized the company's commitment to ushering in a new era of innovation in manufacturing, stating, “With our partnership with Pegatron Technology, we are ushering in a new era of AI, digital, and technology-enabled manufacturing in India.”
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Job creation remains a central focus for Tata, which is committed to strengthening its electronics manufacturing footprint in the country. As part of its plans, Tata Electronics is setting up India's first semiconductor manufacturing facility in Dholera, Gujarat, with an investment of ₹91,000 crore. Additionally, the company has announced a ₹27,000 crore investment for assembling and testing semiconductor chips in Jagiroad, Assam.
These initiatives are expected to create numerous job opportunities in India. Tata Sons Chairman N. Chandrasekaran shared the company's vision of generating 5,00,000 jobs over the next five years in sectors like semiconductors, electric vehicles, and battery-related industries.
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