Varanasi Wealth Management：India's largest consortium Tata took over the Apple foundry to take over 8 iPhone production lines by the end of March

Financial Association January 10 (Edit Malan) Tata Group and Weisuke of India's largest consortium have negotiated for several months to take over a large iPhone assembly factory located in southern India.This will make Tata the first iPhone founder in India.

Two people familiar with the matter revealed that the negotiations are expected to be completed by the end of March.The negotiations have discussed different cooperation methods, but the current cooperation is based on Tower on the basis of most equity of the joint venture.Tata will be responsible for supervising the main production business, while Wei Chuangzitong will assist next to it.

One of the people familiar with the matter said that Tata's target completed due diligence before March 31, so that the subsidiary Tata Electronics can officially take over the Weichuang government of the Indian government on April 1 on April 1st.Factory.

He also pointed out that if the Weichun factory meets the requirements of applying for incentives for the Indian government, then the acquisition may increase the valuation of the iPhone manufacturing business to more than $ 600 million.Varanasi Wealth Management

At present, Tata, Weixin and Apple have not responded to this.

India's iPhone localization

Weizhong Zitong is one of the three major assembles of Apple's iPhone in India, and the other two are Foxconn and Master.Due to the meager profits, Weicuke Tong has sold its iPhone production line in India in 2020, and now it is India's factory.

Weixian has a factory of 2.2 million square feet (about 50 acres) 50 kilometers east of Bangalore, India.If the acquisition is successful, Tata will take over the eight iPhone production lines of the factory and 10,000 workers in the factory, including thousands of engineers.

Weixian may continue to be an Indian iPhone service partner, and can use Apple's global supplier ecosystem.

In addition, Tata further expanded the size of its iPhone component production plant, which is located in Hosur near Bangalore.In November last year, a media said that the factory is expected to recruit up to 45,000 female workers in one and a half to two years to meet the needs of new production lines.

At the same time, Tata also announced that it will open 100 Apple stores in India, and the first opening ceremony will be held in Mumbai, India.This also shows the ambitions of Tata in seizing the Apple industry chain business.

As the saying goes, foreign monks read the scriptures, but in India, local companies are obviously more able to eat, let alone Tata, an old capital of 150 years of business history.

Tata Group's business spans food, steel, automobiles, communications and other industriesMumbai Investment. Its Tata Consulting Service Company is Asia's largest IT outsourcing company and one of the highest market value companies in India.

In recent years, Tata has established its technical development strategy through a series of e -commerce plans and new software.His chairman Natarajan Chandrasekaran also said last year that Tata will enter the field of chip manufacturing next year.

Agra Investment