Quick Overview
- Lumax Auto Technologies to acquire remaining 25% stake in IAC India
- Deal expands Lumax’s capabilities in EV interior systems and plastics
- IAC India to become a wholly owned subsidiary post May 2025
Strategic Consolidation for Future Mobility
Lumax Auto Technologies Limited (LATL), one of India’s leading automotive component suppliers, is all set to acquire the remaining 25% stake in IAC India from International Automotive Components Group. This move, expected to conclude by 31 May 2025, will make IAC India a fully owned subsidiary of LATL.
This is more than just a financial acquisition. It’s a strategic alignment with the growing demand for electric vehicle platforms in India. LATL is already a dominant player in automotive lighting, gear shift levers, and interior plastics. With IAC India under full control, Lumax adds muscle to its presence in the premium interior space—especially in electric cars like the Mahindra BE6 and XUV.e9, for which IAC India already supplies integrated cockpits and door panels.
Strengthening the EV Interior Game
IAC India brings five manufacturing units across key auto hubs like Pune (Chakan), Manesar, Nashik, and Bangalore. Its Pune-based engineering centre with 330 engineers is no slouch either—offering product design, development, and tooling services not just for India but for global clients.
What makes this move noteworthy is IAC India’s existing portfolio of clients. These include heavyweights like Mahindra, Maruti Suzuki, Volkswagen, and Volvo Eicher. That’s a strong OEM roster and now, a big asset for Lumax.
The acquisition also comes with a tech support pact, which ensures continued technology backing from the IAC Group. In simpler terms, the brains stay in play while the control shifts to India.
Unlocking Synergies and Scale
Lumax, with a turnover of ₹8434 crore in FY24 and 28 manufacturing plants, is looking to merge IAC India in the near future to unlock operational synergies. The company aims to enhance cost efficiency and scale up innovation, particularly in the four-wheeler plastics and EV interior segments.
Final Thoughts
In an era where cabin experience sells more cars than horsepower, Lumax’s move to take over IAC India is smart business. With this, they aren’t just making dashboards—they’re setting the dashboard for the future of Indian mobility. Expect smoother panels, slicker touchpoints, and probably a few more buttons you won’t use but will love bragging about.