Latest news with #IACGroup
Business Standard
19-05-2025
- Automotive
- Business Standard
Lumax Auto Technologies to acquire balance 25% stake in IAC International Automotive India
Lumax Auto Technologies has signed an agreement to acquire the remaining 25% stake in IAC International Automotive India (IAC India) from the International Automotive Components Group (IAC Group). IAC Group will continue to support IAC India through a technology support agreement. IAC India is a well-established Tier-1 plastic interior systems and components supplier to key automotive OEMs in India including Mahindra, Maruti Suzuki, Volkswagen and Volvo Eicher Commercial Vehicles among others. IAC India is a leader in the vehicle interior space and the sole supplier of integrated cockpits and door panels for the recently launched BEV model from Mahindra BE6 & XEV 9e. It also has a strong and well established engineering centre providing advanced design and engineering services to customers in India and overseas which provides it a competitive advantage.
Business Upturn
19-05-2025
- Automotive
- Business Upturn
Lumax Auto Technologies to acquire remaining 25% stake in IAC India
By Aman Shukla Published on May 19, 2025, 15:53 IST Lumax Auto Technologies Limited (LATL), a prominent Tier-1 supplier of automotive systems and components, has entered into an agreement to acquire the remaining 25% stake in IAC International Automotive India Private Limited (IAC India) from the International Automotive Components Group (IAC Group). With this acquisition, IAC India is set to become a wholly owned subsidiary of LATL. The IAC Group will continue to provide technology support to IAC India through a dedicated agreement, ensuring continuity in technical collaboration. IAC India is recognized for its capabilities in manufacturing plastic interior systems and components for leading automotive OEMs in India. Its client base includes Mahindra, Maruti Suzuki, Volkswagen, and Volvo Eicher Commercial Vehicles. Notably, IAC India serves as the sole supplier of integrated cockpits and door panels for Mahindra's latest battery electric vehicle models, BE6 and XEV 9e. The company operates five manufacturing facilities across India, including two in Chakan (Pune), and one each in Manesar, Nashik, and Bangalore. It also houses an advanced engineering centre in Pune. This centre is equipped with capabilities in product design, dimensional engineering, product development, program management, and tooling. With a workforce of 330 engineers and designers, the centre supports both domestic and international customers, offering comprehensive engineering solutions. LATL had previously acquired a 75% stake in IAC India in March 2023. The current transaction, subject to the fulfillment of customary conditions precedent, is expected to close by May 31, 2025. Following the completion, LATL is considering the possibility of merging IAC India with itself, in line with legal and regulatory guidelines, to leverage operational and strategic synergies. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
