After acquiring a majority stake in IAC India, Lumax Auto Technologies aims to tap into operational and customer synergies to transition into a systems supplier. It also aims to leverage IAC India's engineering strength to co-develop new products.
A market leader in gear shifters, Tier-1 automotive lighting major Lumax Group subsidiary, Lumax Auto Technologies (LATL), has acquired a majority 75 percent stake in IAC India which is a key supplier of interior parts such as instrument clusters, consoles and door trims. LATL aims to leverage synergies between the two companies which are fundamentally operating in the area of plastics, and eyes tapping into operational, customer and sourcing synergies to seamlessly integrate the two businesses and transition to being a systems supplier.
In this conversation, Anmol Jain, managing director, LATL, talks about how the company is bullish about its prospects in the passenger- and commercial vehicle segments after this inorganic partnership which will enable it to tap into upcoming megatrends.