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Tata Group-Pegatron JV: Tata Group company Tata Electronics Private Limited (TEPL) has successfully formed a joint venture (JV) with Pegatron, Apple's second-largest manufacturing partner in India . According to a Forbes report, Tata will initially hold a 60 percent stake, while Pegatron will hold the remaining 40 percent. On November 15, Tata officials met Pegatron officials to confirm the JV. The partnership will boost Tata's iPhone manufacturing plans, expanding its existing iPhone assembly plant in Karnataka, which it acquired from Taiwan's Wistron last year. Also, another plant is being built in Hosur, Tamil Nadu, where Pegatron will be its JV partner.
Talks for the deal were going on for a long time
Talks were going on between the two companies (TEPL and Pegatron) for this deal, which has now been successful. According to a Forbes India report, Tata is in the process of taking over Pegatron's Tamil Nadu plant. The necessary paperwork has been completed and it is expected that its official announcement will be made soon.
Tata became the first Indian company.
Apple's iPhone contract manufacturers in India currently include Tata, Pegatron, and Foxconn. Tata is key to Apple's growing ambitions in India. It became the first Indian company to make Apple's iPhones domestically after it bought a 100 percent stake in Wistron last year.
Tata Electronics plans to hire over 20,000 additional workers for its new iPhone assembly plant in Hosur, Tamil Nadu, taking the workforce at the plant to 40,000.
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