Noel Tata to Acquire Majority Stake in Pegatron's iPhone Manufacturing Plant in Tamil Nadu

In a significant move, Tata Electronics, under the leadership of Noel Tata, is set to acquire a majority stake in the Pegatron-run iPhone manufacturing plant located in Tamil Nadu. This strategic acquisition is part of Apple’s broader initiative to diversify its production outside China, driven by ongoing geopolitical tensions. Following the deal, Tata Electronics will control 60% of the company and oversee day-to-day operations, while Pegatron retains a 40% stake and continues to provide technical support.

The Pegatron plant, which produces around 5 million iPhones annually, also employs a workforce of 10,000 people. This acquisition aligns with Apple’s commitment to ramping up its manufacturing efforts in India, where the tech giant aims to achieve 25% of its total iPhone production by 2023.

Apple's manufacturing success in India has been remarkable, with exports touching USD 10 billion in FY23-24. The company’s local production efforts continue to strengthen its position in the Indian market. CEO Tim Cook has expressed excitement about the company’s growth and expansion plans in India.