Pegatron’s Board Okays Initial $150 Million Investment in India
NEW DELHI – Pegatron’s board has approved an initial investment of $150 million (Rs 1,100 crore) to build manufacturing facilities in India, according to reports.
The India factory is expected to begin production in the second half of 2021 or early in 2022.
During the next two years, Pegatron plans to invest more at the site, CEO Liao Syh-jang said.
The iPhone assembler registered its India subsidiary in July but experienced delays in the project because of Covid-19.
With the aid of suppliers Pegatron, Foxconn and Wistron, Apple is expected to produce devices worth around $50 billion over five years in India, most for exports. Pegatron will start availing of incentives under the PLI scheme there from Apr. 1.
Under the PLI scheme, Pegatron is expected to produce handsets worth Rs 4,000 crore in its first year, beginning in March.
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