Samvardhana Motherson International Limited has informed the Exchange regarding approval for execution of new Joint Venture at its meeting held on June 19, 2025.
MOTHERSON · price
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SAMIL's Board has approved a Joint Venture Agreement with Egtronics Co. Ltd., a KOSDAQ-listed South Korean company specializing in high-efficiency power electronics. The JV will focus on designing, developing, manufacturing and selling vehicle power electronics (DC-DC converters, traction inverters, on-board chargers, PDUs) for clean mobility applications including electric and hydrogen commercial vehicles. The JV Company will be incorporated in India with manufacturing in India and global sales excluding South Korea. SAMIL will hold 51% and Egtronics 49%, with SAMIL having majority board representation (3 of 5 directors) and consolidating the JV in its books. Initial paid-up capital is modest at INR 5 lakhs, to be scaled up as per business needs.
Positive strategic move — expands SAMIL's Wiring Harness Division into high-growth EV and hydrogen power electronics with access to Egtronics' patented product portfolio, strengthening its position in the commercial vehicle clean mobility value chain. Since SAMIL holds majority stake and will consolidate the JV, earnings impact will flow directly to SAMIL shareholders as the business scales.