Lumax Auto Technologies to Fully Acquire IAC India, Accelerating EV Interior Leadership

Image Source: Lumax World

Lumax Auto Technologies Ltd (LATL) is set to acquire the remaining 25% stake in IAC International Automotive India Pvt Ltd for ₹221 crore, making IAC India a wholly owned subsidiary by May 31, 2025. This strategic move builds on LATL’s initial 75% acquisition in March 2023 and marks a major milestone in the company’s expansion across automotive plastics and interior systems.

Key Highlights:

Full Ownership and Integration: LATL’s acquisition of the final 25% stake from International Automotive Components Group will enable complete operational control and the possibility of merging IAC India with LATL to unlock further synergies and efficiencies.
Continued Technology Partnership: Despite the ownership change, IAC Group will continue to provide technology support to IAC India, ensuring ongoing innovation and expertise transfer.
EV Segment Strength: IAC India is the exclusive supplier of integrated cockpits and door panels for Mahindra’s new BE6 and XEV 9e electric vehicle platforms, underscoring LATL’s growing presence in the rapidly expanding EV market.
Manufacturing and Engineering Footprint: IAC India operates five manufacturing plants (Pune, Manesar, Nashik, Bangalore) and a world-class engineering centre in Pune with over 330 engineers, supporting both domestic and global automotive programs.
Strategic Vision: LATL’s leadership highlights that this consolidation strengthens its capabilities in lighting, plastics, and interiors, aligns with next-gen EV platforms, and enhances its value proposition for OEMs.

This acquisition positions Lumax Auto Technologies as a dominant force in automotive interior solutions, particularly for the EV sector, and sets the stage for future growth and innovation.

Source: NDTV Auto, Mobility Outlook, Business Standard, Economic Times Auto