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Motherson Group joins Apple India supply chain with BIEL Crystal partnership
Industry News- Aug 06,24
Corning, another key Apple supplier, is expected to begin production at its Tamil Nadu facility in late 2025.
Samvardhan Motherson International Ltd (SMIL) is set to integrate into Apple’s supply chain network in India through a strategic alliance with BIEL Crystal Manufactory, a leading global supplier of smartphone glass. This partnership will establish Motherson as the second major Indian business group, following Tata, to become an Apple vendor.
Founded in 1989 by Yeung Kin-man in Shenzhen, China, BIEL Crystal initially specialized in watch crystals but now supplies glass screens for approximately two-thirds of all iPhones. The new venture will see Motherson, led by Vivek Chaand Sehgal, holding a 51% majority stake and planning to construct a new manufacturing facility in southern India, potentially Tamil Nadu. The investment for this greenfield project is expected to range between Rs 20 billion and Rs 25 billion, with projected revenues of Rs 80 to Rs 85 billion within four to five years. The facility is anticipated to launch between July and September.
In January, SMIL and BIEL Crystal (Singapore) signed agreements, with BIEL investing in Samvardhana Motherson Innovative Solutions Ltd (SMISL), a subsidiary of SMIL. BIEL will invest through 0.01% compulsorily convertible preference shares (CCPS), convertible into 10% equity and up to 49% on a fully diluted basis. This deal includes technical support from BIEL, with SIML appointing most directors at Motherson Electronic Components Pvt Ltd (MECPL), where BIEL can also nominate directors proportional to its shareholding.
This strategic move aligns with Apple’s efforts to diversify its production base beyond China due to geopolitical tensions. India, along with Southeast Asian countries like Vietnam, Malaysia, Thailand, and the Philippines, is poised to benefit from this shift. Electronics have recently surpassed gems and jewelry to become India's third largest export by the end of June, with Apple’s investments, including Tata’s over $1 billion in new projects, contributing to this growth.
Corning, another key Apple supplier, is expected to begin production at its Tamil Nadu facility in late 2025.
(Source: ET & Business Standard)
Corning
Apple supplier
Motherson Group
Apple India
BIEL Crystal
Iphoone
electronics
smartphone
phone manufacturing
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