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Tata to buy Pegatron’s iPhone plant in India- All details you need to know

9Apr

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Technology

Tata to buy Pegatron’s iPhone plant in India- All details you need to know

[ad_1] Pegatron, the Taiwanese manufacturer, is reportedly in advanced negotiations to transfer control of its sole iPhone production facility in India to the Tata Group. According to sources familiar with the matter, this marks Pegatron's latest move in scaling back its partnership with Apple. Under the proposed deal, which has purportedly received Apple's approval, Tata Group is expected to hold a minimum 65% stake in a joint venture that would oversee operations at the Pegatron plant near Chennai. Pegatron would provide technical support and retain the remaining stake.Pegatron has 10,000 workers The joint venture would be operated by Tata Electronics, a unit of Tata Group, a major conglomerate in India. The Pegatron facility in India currently employs approximately 10,000 workers and...

Reliance Industries-Brookfield to open data centre in Chennai next week: Mukesh Ambani

[ad_1] Billionaire Mukesh Ambani on Sunday said his firm Reliance Industries in partnership with Canada's Brookfield will open a data centre in Chennai next week, marking entry into the fast-growing market.Reliance had in July last year invested about ₹378 crore to enter an existing joint venture, where Brookfield Infrastructure and US-based realty estate investment trust Digital Realty were already partners. The three own 33 per cent each in the venture. Speaking at the Tamil Nadu Global Investors Meet here, Ambani, chairman and managing director of Reliance Industries Ltd, said his group is investing in renewable energy and green hydrogen as well as in setting up a data centre in the state. "Reliance has partnered with Canada's Brookfield asset management and US-based Digital Reality...

SoftBank forms JV to build AI-powered warehouses with Symbotic

[ad_1] SoftBank Group is forming a joint venture with supply-chain services provider Symbotic to build AI-powered warehouses that will be majority owned by the Japanese technology investor, the companies said on Monday.The firms are investing a total of $100 million in the venture, which will be called GreenBox Systems. The unit has also signed a contract to buy AI-powered systems worth $7.5 billion for its warehouses from Symbotic. The deal will give SoftBank, already an investor in Symbotic, warrants representing about 2% of the U.S. company's outstanding shares. The Japanese firm said it had also bought 17.8 million shares of Symbotic from CEO Rick Cohen. Shares of Symbotic rose 1.3% on Monday, while SoftBank closed 1.2% higher on the Tokyo bourse before the news.The move comes at a ...