Tata Electronics acquires majority stake in Pegatron's iPhone factory in Chennai, India

Tata Group, a leading Indian technology company, has successfully reached an important agreement with Pegatron to acquire a majority stake in its core iPhone production plant in India. According to the agreement, Tata Group will hold a 60% stake in the new joint venture and be responsible for daily operations and management. Pegatron will retain a 40% stake and provide necessary technical support. The two parties plan to submit an application for approval to the Competition Commission of India in the near future in order to complete the joint venture as soon as possible. Although the specific financial details have not been disclosed, this step will undoubtedly further strengthen Tata Group's position as a major supplier to Apple.