Samvardhana Motherson To Form EV Components JV With Korea's Egtronics

Samvardhana Motherson International Ltd. on Thursday said its board has approved a joint venture with South Korea's Egtronics Co. Ltd. to supply vehicle power electronics for electric and hydrogen-fuelled commercial vehicles. SAMIL will hold 51% in the venture, while Egtronics will own the rest, the company said in an exchange filing.

The JV will manufacture in India and sell globally, excluding South Korea. The product line includes DC-DC converters, auxiliary and tractor inverters, on-board chargers, and power distribution units.

Separately, the board approved the acquisition of a 28.15% stake in HR Dhauliganga Pvt. Ltd. for ₹141.3 million, to secure renewable power under a 50 MWp captive solar project in Tamil Nadu. The move is aimed at cutting 1.38 million tonnes of CO₂ emissions over the project life, the company said.