Tata Electronics Acquires 60 Percent Stake in iPhone Maker Pegatron Technology India

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***** Electronics Acquires 60 Percent Stake in iPhone Maker Pegatron Technology India

***** Electronics Pvt Ltd (TEPL) on Friday announced the acquisition of a controlling 60 per cent stake in Taiwanese contract manufacturer Pegatron’s India unit, cementing its position as a key player in the Indian electronics manufacturing sector.

The financial details of the transactions were not disclosed.

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

The latest deal is expected to strengthen *****’s position as an Apple supplier and bolster its iPhone manufacturing plans.

Announcing the acquisition of a 60 per cent stake, ***** Electronics said Pegatron Technology India will undergo rebranding to reflect its new ownership structure and business direction while continuing to deliver high-quality electronics manufacturing services.

The latest move by the electronics arm of the salt-to-software conglomerate follows its acquisition of Wistron’s India operations (based in Narsapura, Karnataka) less than a year ago in March 2024.

In fact, in his New Year message to employees, ***** Sons Chairman N Chandrasekaran asserted that with global supply chains continuing to shift in India’s favour as the world’s largest businesses strike a new balance between resilience and efficiency, manufacturing has the potential to transform the country’s economy.

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

On Friday, ***** Electronics CEO and MD Randhir Thakur said the acquisition of a majority stake in Pegatron Technology India fits into ***** Electronics’ strategy of growing 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 said.

In addition to TEPL acquiring a majority stake in Pegatron Technology India, the two companies will work on integrating their teams to work seamlessly.

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

***** Electronics is building India’s first Fab in Dholera, Gujarat, with a total investment of Rs 91,000 crore. In addition, another Rs 27,000 crore will be invested in a greenfield facility in Jagiroad, Assam, for the assembly and testing of semiconductor chips. Together, these facilities will produce semiconductor chips for applications across automotive, mobile devices, artificial intelligence (AI), and other key segments to serve customers globally.

***** Group will create 5 lakh manufacturing jobs in the next five years across sectors such as semiconductor, electric vehicles, battery and related industries, Chandrasekaran said in October last year.

***** Sons’ top honcho had asserted that India cannot achieve the goals of being a developed nation if the country cannot create manufacturing jobs.

© Thomson Reuters 2024

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