Tata Electronics Acquires 60 P.c Stake in iPhone Maker Pegatron Technology India

Tata Electronics Pvt Ltd (TEPL) on Friday introduced the acquisition of a controlling 60 per cent stake in Taiwanese contract producer Pegatron’s India unit, cementing its place as a key participant within the Indian electronics manufacturing sector.

The monetary particulars of the transactions weren’t disclosed.

Pegatron India is a subsidiary of Taiwanese Pegatron Corporation, engaged within the provision of contract-based electronics manufacturing companies (EMS) to world giants like Apple.

The newest deal is anticipated to strengthen Tata’s place as an Apple provider and bolster its iPhone manufacturing plans.

Announcing the acquisition of a 60 per cent stake, Tata Electronics mentioned Pegatron Technology India will bear rebranding to replicate its new possession construction and enterprise course whereas persevering with to ship high-quality electronics manufacturing companies.

The newest transfer by the electronics arm of the salt-to-software conglomerate follows its acquisition of Wistron’s India operations (primarily based in Narsapura, Karnataka) lower than a 12 months in the past in March 2024.

In reality, in his New Year message to workers, Tata Sons Chairman N Chandrasekaran asserted that with world provide chains persevering with to shift in India’s favour because the world’s largest companies strike a brand new stability between resilience and effectivity, manufacturing has the potential to remodel the nation’s economic system.

Chandrasekaran termed it as “a new manufacturing golden age for India”.

On Friday, Tata Electronics CEO and MD Randhir Thakur mentioned the acquisition of a majority stake in Pegatron Technology India matches into Tata Electronics’ technique of rising its manufacturing footprint.

“We look forward to a new era of AI, digital, and technology-led manufacturing as we bring up these new facilities and expand our operations in India,” Thakur mentioned.

In addition to TEPL buying a majority stake in Pegatron Technology India, the 2 firms will work on integrating their groups to work seamlessly.

Tata Group has been scripting an aggressive blueprint for electronics and semiconductor manufacturing.

Tata Electronics is constructing India’s first Fab in Dholera, Gujarat, with a complete funding of Rs 91,000 crore. In addition, one other Rs 27,000 crore might be invested in a greenfield facility in Jagiroad, Assam, for the meeting and testing of semiconductor chips. Together, these amenities will produce semiconductor chips for functions throughout automotive, cellular units, synthetic intelligence (AI), and different key segments to serve prospects globally.

Tata Group will create 5 lakh manufacturing jobs within the subsequent 5 years throughout sectors resembling semiconductor, electrical automobiles, battery and associated industries, Chandrasekaran mentioned in October final 12 months.

Tata Sons’ prime honcho had asserted that India can not obtain the objectives of being a developed nation if the nation can not create manufacturing jobs.

© Thomson Reuters 2024