Pegatron, Tata to Invest in Indian State to Make Phones, Parts
(Bloomberg) -- Taiwan’s Pegatron Corporation and Tata Electronics will invest separately in the southern Indian state of Tamil Nadu to make mobile phones and parts.
Tata Electronics will invest 57.63 billion rupees ($790 million) for making mobile phone components and Pegatron will invest 11 billion rupees to make mobile phones as part of its phase I investment, the Tamil Nadu government said in a statement Friday.
India has been successful in luring global phone assemblers that want to diversify their dependency on China in the wake of coronavirus pandemic and the trade tensions between Beijing and Washington. In October, the Indian government gave the nod to 16 companies under its Production Linked Incentive program.
The other companies to invest in Tamil Nadu state include:
- Sun Edison to invest 46.29 billion rupees to make solar PV modules
- Ola Electric to invest 23.54 billion rupees to make electric vehicles, batteries
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