Apple partner Pegatron invests $150 million on production site in India

Apple Store 5th Ave in NYC Source: iMore

What you need to know

Pegatron is planning to build a $150 million factory in Chennai, India.
The company will use the space for Apple-related operations.

As reported by Financial Express, Apple's supply chain partner Pegatron has leased out half a million square feet in an industrial park near Chennai, India. The company is planning to invest $150 million to begin manufacturing components for Apple.

Sources in the state government said that the company has leased out space for Apple-related operations in Tamil Nadu. According to sources privy to the development, Pegatron has leased half a million sq-ft at city-based realty firm Casa Grande's Chennai industrial park. Pegatron Corporation had in November 2020 approved a proposal to invest Rs 1,100 crore through its subsidiary Pegatron Technology India for its India plans. Sources said that the company will have one or two production facilities in India.

Pegatron won't be the only manufacturer in Tamil Nadu that is contracted by Apple. Foxconn, perhaps the most notable supply chain partner for the company, also operates in the area. The report mentions that the company also considered the recent riots at the Wistron factory in its decision to choose Tamil Nadu for its new plant.

Another iPhone maker Wistron had made headlines when a section of workers vandalised the Karnataka plant in December 2020 while protesting salary payments, causing severe damage resulting in halting of the operations. Sources said besides Tamil Nadu's excellent port connectivity coupled with incentives offered by the state government, the Wistron episode would have played in the minds of the Pegatron management while choosing the state for building its manufacturing base for Apple.

According to the report, Tamil Nadu is a popular electronics hub in India, hosting a number of companies including Samsung, Motorola, and Nokia.

⚡ CHARGED UP

This Zens magnetic charger powers iPhones, AirPods, and Apple Watches

The more things that need charging the more difficult it can be to make sure that they're all charged when we need them. That's where the Zens Magnetic + Watch Wireless Charger comes in — because it can wirelessly charge an iPhone 12, AirPods, and an Apple Watch all at the same time.

NFT?

Physical Steve Jobs application letter sells for $343,000, NFT nets $27,643

A year before Steve Jobs joined Atari and a long time before Apple was founded, a now-famous job application was penned by the man himself. That application most recently sold for more than $200,000 — and it's up for auction again. Oh, and there's an NFT version as well!