What Happened? Subsidiary Tata Electronics is seeking land in Tamil Nadu's Krishnagiri district as it aims to either expand its existing mobile components manufacturing unit there or establish an outsourced semiconductor assembly and test unit, sources told the Economic Times.
See Also: When Will Tata Power Share Price Go Up?
The move comes days after it was reported that Tata Group was acquiring Taiwan-based contract manufacturer Wistron's iPhone manufacturing plant in Karnataka's Kolar district. The Tata Group was reportedly the only domestic company chosen to assemble Apple’s iPhone 15 and iPhone 15 Plus in India.
India has also been looking to build itself up as a major semiconductor manufacturing hub outside China, doling out incentives for suppliers in the country.
The Tata Group had earlier announced the appointment of Intel veteran Randhir Thakur as CEO of Tata Electronics, and he is likely to head the company's efforts to get into semiconductor chips fabrication, packaging and manufacturing, the sources told the business daily.
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