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India's Tata company has reached an agreement with Foxconn to acquire a majority stake in its apple factory located in Tamil Nadu.
Two sources stated that india's Tata Electronics has agreed to purchase a majority stake in the only iPhone factory in India owned by Wistron, forming a new joint venture to strengthen Tata's position as an apple supplier. According to the agreement announced internally last week, Tata will hold 60% of the joint venture's shares and be responsible for daily operations, while Wistron will hold the remaining shares and provide technical support, these two sources said. They refused to disclose their names as the details have not been made public yet.
Express News | Tata to Hold 60% Stake in New Joint Venture With Pegatron to Run Its iPhone Plant in India-Sources
Express News | India's Tata Electronics Seals Deal With Pegatron to Acquire Its Apple iPhone Plant in Tamil Nadu State-Sources
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