Auto component makers in an investment spree

28 Feb 2023 CW Team

During the past few days, major suppliers of car components have been on an acquisition and joint venture binge. This is encouraging news for the sector, which has not heard any announcements like this in the previous three years.

For instance, in the last week, Minda Corporation paid 4000 million for a 15.70 percent share in rival Pricol and Lumax Auto Technologies entered a strategic agreement to buy the majority of IAC Group's India business at an equity valuation of 5870 million. Analysts and industry veterans view this as evidence that the car market is rebounding strongly following the Covid restrictions.

Market confidence is high because of how strongly it has recovered. Second, businesses are actively striving to incorporate new technologies into their portfolio due to the rapid infusion of technology. Several changes are taking place, and businesses are buying up rivals who have the necessary technology to stay competitive, according to Vinnie Mehta, Director General of the Automotive Components Manufacturers Association of India (ACMA).

He claimed that the industry's long-term growth and consequent desire to keep making such expenditures are what inspires this optimism.

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