The Board of Directors of Samvardhana Motherson International at its meeting held on 17 June 2026 has, inter-alia, considered and approved the acquisition by SMR Automotive (Langfang) Co., (SMR Langfang), an indirect wholly-owned subsidiary of the Company, of controlling stake in Shenzhen Autocruis Technology Co., (Target), a company incorporated under the laws of the People’s Republic of China, via a primary capital increase (subscription of fresh equity) of CNY 153.3 million (equivalent to approximately USD 22.6 million) for a 64.76% equity stake on a fully diluted basis.
Post completion of the aforementioned initial acquisition of 64.76% equity of Target, Target will undertake buy-back of its equity and subject to its successful completion, SMR Langfang will hold 67.78% of the equity share capital of Target.
The Target is engaged in the business of design and development of automotive vision and camera-based systems (CMS, FDM, DMS, surround view system, and DVR) for commercial and passenger vehicles.
Source: Business-Standard