ACMA - Deals Newsletter - FY20

www.pwc.
com
India: Automotive
deals FY20
Prepared for ACMA
Strictly private
and confidential
October 2020
Contents
Contents 2
3
Executive Summary
Executive Summary
4
5
4 Executive Summary 6
India: Automotive deals FY20 Strictly private and confidential November 2020
Pw C 2
1 Overall Summary Contents
Executive Summary of Automotive deals and FDI in India

Snapshot
Mergers and Acquisitions (M&A) M&A for Vehicle

T otal M&A deals count Value of disclosed Manufacturers
16 deals
28
9 7 549
(Value disclosed) (Value not disclosed) M&A for Components
Manufacturers
The M&A deals section in this report only contains the domestic, inbound and
outbound M&A; any type of PE investments, equity infusion etc. is not the part of 521
this section
FDI investments in India FDI into Vehicle

Number of FDI transactions in the Automotive Manufacturers
sector Total Value of FDI 1704
105 FDI into Components
105 105 2486
Manufacturers
(Number of involved (Number of involved
782
Indian entities) foreign entities)
The total number of transactions covered in this report contains FDI investments in the vehicle manufacturing as
well as automotive component manufacturing sector in India.
The FDI investments are tracked from the DIPP listings. A lthough, most of the major transactions have been
covered, the list under consideration cannot be claimed as exhaustive.
Domestic PE deals in India PE Deals -Vehicle

Value of disclosed Manufacturers
Number of domestic PE deals in the Automotive
sector deals 78
20 PE Deals -Components
265
Manufacturers
12 8
187
(Value disclosed) (Value not disclosed)
PE Deals constitute private equity, angel/seed and other individual/group investments
PIPE (Private investments in Public Equity) deals and other large open market events (like QIBs – Qualified
Institutional Buyers, IPOs etc.) – irrespective of size of stake sale/purchase - have not been included in this
publication. Although, most of the major transactions have been covered, the list under consideration cannot be
claimed as exhaustive.
Scope of this report – April ’1 9 – March ‘20 Source: Pw C Research, DIPP
Pw C 3
2 Executive Summary Contents
Automotive M&A deals in India
M&A Deals in India
Vehicle Manufacturers
Stake
Date T arget Buyer Seller T ype of Deal Deal Value
%
2019-05-17 Tata International ADV Partners Ltd. Tata 1 9.53 50.00
DLT Pv t. Ltd. International
Ltd.
2019-10-25 Peugeot Motocycles Mahindra Two Wheelers Ltd. Peugeot S.A. Undisclosed 49.00
Peugeot S.A.
S.A.S
2019-11-05 Ampere Vehicles Pvt. Greaves Cotton Ltd. 8.52 1 8.77
Ltd.
2019-12-18 Bowler Manufacturing Jaguar Land Rover Ltd. Undisclosed 1 00.0
Ltd. 0
2019-12-31 HNF GmbH Hero Cycles Ltd., IBG Undisclosed 48.00
General Motors
Beteiligungsgesellschaft
Company
Sachsen-Anhalt mbH
2020-01-17 General Motors Great Wall Motor Company Ltd. General Undisclosed 1 00.0
Company, Motors 0
Maharashtra Car Plant Company
2020-03-17 Eurl LD Azouaou Mahindra and Mahindra Ltd. 0.15 5.00
Largest Deal by Value

Electric Vehicle Space
Scope of this report – April ’1 9 – March ‘20 Source: Pw C Research
Pw C 4
Automotive M&A deals in India
M&A Deals in India
Component Manufacturers
T ype of Deal Value Stake
Date T arget Buyer Seller
Deal (Mn) (%)
Merger /
1-Apr-19 Apollo Tyres Ltd. Michelin 34.45 9.98
Acquisition
ZF Friedrichshafen
2-Apr-19 Wabco India Ltd. Inbound 430.63 25.00
AG
L and T Kobelco Larsen and Toubro
2-Apr-19 Kobe Steel Ltd. Inbound 6.25 51.00
Machinery Pvt. Ltd. Ltd.
Robert Bosch
Robert Bosch Automotive ZF Steering Gear
28-May-19 Automotive Inbound 9.00 26.00
Steering Pvt. Ltd. India Ltd.
Steering GmbH
ANAND Automotive
KSS Abhishek Safety Takata India Pvt.
3-Jun-19 Pvt. Ltd., Key Domestic 20.10 100.00
Systems Pvt. Ltd. Ltd.
Safety Systems Inc.
Alucast Auto Parts Ltd.,

Fukoku India Pvt. Alucast Auto Parts
2-Jul-19 Movable and Immovable Domestic Undisclosed 100.00
Ltd. Ltd.
Assets
Supreme Feltol Thailand Supreme Treon
31-Jul-19 Outbound Undisclosed Undisclosed
Co. Ltd. Pvt. Ltd.
Koito
India Japan Lighting Pvt.
24-Dec-19 Manufacturing Co. Lucas TVS Ltd. Inbound 20.86 30
Ltd.
Ltd.
Indian Oil
4-Feb-20 Phinergy Ltd. Outbound Undisclosed Undisclosed
Corporation Ltd.

Pw C 5
FDI investments in Automotive sector in India
FDI investments in India
FDI
S. No. Nam e of Indian Company Nam e of Foreign Entity Country
($ Mn)
1 Suzuki Motor Gujarat Private Limited Suzuki Motor Corporation Japan 552.26
2 Renault India Private Limited Renault Group BV Netherlands 21 3.49
3 MG Motor India Private Limited SAIC Motor HK Investment Limited Hong Kong 206.64
Accel Growth Fund V L.P, Accel India V

(Mauritius) Limited, Accel Leader II Holdings
Cay man
(Mauritius) Ltd., Alpha Wave Ventures LP, IDG
Wickedride Adventure Services Islands,
4 V entures India Fund III LLC, MPOF Mauritius 1 46.32
Priv ate. Limited. Mauritius,
Ltd, On Mauritius, Qualcomm Asia Pacific Pte.
USA
Ltd., SCI Investments VI, Falcon Edge India I
LP, MAF Mauritius Ltd
5 Alstom Transport India Limited Alstom Transport Holdings B.V. Netherland 1 29.06
6 Nissan Motor India Private Limited Nissan International Holding B.V. Netherland 1 21.80
7 Cars24 Services Private Limited Global Car Group Pte. Ltd. Singapore 93.25
8 PCA Automobiles India Ltd PSA Automobiles SA France 56.65
9 Riv igo Services Private Limited KB Global Platform Fund South Korea 24.85
10 TVS Supply Chain Solutions. Limited. Mahogany Singapore Company Pte Ltd Singapore 23.54
11 Sobek Auto India Pvt. Ltd.. India Used Car Group B.V. Netherland 20.41

List includes FDI of >$ 1.0 Mn per target entity| Source: PwC
Scope of this report – April ’1 9 – March ‘20 Research, DIPP
Pw C 6

FDI
($ Mn)
Kalaari Capital Partners, Lightstone

12 Vogo Automotive Private. Limited. Mauritius 1 9.51
Fund S.A., Matrix Partners India
13 Mahindra Two Wheelers Limited Aay Kay Global Mauritius 1 4.77

Scania Commercial Vehicles India Private Scania Commercial Vehicles
14 Sweden 1 4.21
Limited A ktibolag
15 FCA India Auotomobiles Private Limited FCA Italy SPA Italy 1 0.15
Linde Material Handling Asia Pacific
16 Kion India Pvt Ltd Singapore 8.40
Pte
17 Treasure Vase Ventures Private Limited Mitsui and Co Ltd Japan 8.1 4
18 Lithium Urban Technologies Private Limit International Finance Corporation U.S.A 7 .49
Roppen Transportation Services Private.
19 Nex us Ventures V Ltd Mauritius 6.1 3
Limited.
20 AS Driv ezy Rentals Private Limited Rentalcoins Inc. U.S.A 5.20
21 Toyota Tsusho India Private Limited Toyota Tsusho Corporation Japan 5.00
22 Zoomcar India Private. Limited. Zoomcar, Inc U.S.A 4.83

Pw C 7
FDI
($ Mn)
23 Honda Cars India Limited Honda Trading Asia Co. Ltd. Thailand 3.1 6
Matrix Partners India Investments

24 Khati Solutions Private. Limited. Mauritius 2.01
III, LLC
25 ALPS Logicom India Private Limited ALPS Logicom Co., Ltd. Japan 1 .55
Infraprime LogisticsTechnologies Private.

26 Foundamental GMBH Germany 1 .43
Limited.
Great Wall Motor Company

27 Hav al Motor India Private Limited China 1 .34
Limited
28 UCI Logistics Solutions Private Limited UCI Singapore Pte. Ltd. Singapore 1 .12
29 Pravaig Dynamics Private. Limited. V ouno S.A.R.L. Lux embourg 1

Pw C 8
FDI
($ Mn)
1 Sona BLW Precision Forgings Limited Singapore VII TOPCO III PTE. LTD Singapore 1 7 8.49
Mahogany Singapore Company Pte
2 DRSR Logistics Services Private Limited Singapore 68.59
Ltd
Toshiba JSW Power Sy stems Private Toshiba Energy Systems and
3 Japan 35.82
Limited Solutions COR
4 Hy undai Transys India Private Limited M/s. Hy undai Transys Inc. South Korea 29.84
5 Linamar India Private Limited Linamar Financial SARL Lux embourg 28.12
6 TVS Automobile Solutions Private Limited Mitsubishi Corporation Japan 26.02
7 Mitsuba Sical India Private Limited Mitsuba Corporation Japan 21 .12

8 Iljin Global India Private Limited ILJIN Global South Korea 1 9.85
9 TS Tech Sun Rajasthan Pvt Ltd TS Tech Co Ltd Japan 1 9.18
Midea Electrics Netherlands, B.V.,
10 Carrier Midea India Private Limited Netherlands 1 8.06
Sensitech Emea, B.V.
A scent Investment Holdings PTE
11 A mber Enterprises (India) Pvt Ltd Singapore 1 4.54
LTD

Pw C 9
FDI
($ Mn)
Zamil Air Conditioners India Private
12 Zamil Industrial Investment Company Saudi Arabia 1 4.16
Limited
13 Fujitsu General (India) Private Limited Fujitsu General Limited Japan 1 3.77
14 Hitachi Automotive Systems India Private Hitachi Automotive Systems Limited Japan 1 2.90
15 Power Machines India Limited PJSC Power machines Russia 1 2.89
16 Lear Automotive India Private Limited Lear Corporation (Mauritius) Limited Mauritius 1 2.78
17 PSA AVTEC Powertrain Private Limited PSA Automobiles SA France 1 2.65
Knorr Bremse Systems For Commercial Knorr Bremse Asia Pacific (Holding)
18 HongKong 1 1 .87
V ehicles India Private. Limited. Limited, Hongkong
19 A isin Automotive Haryana Pvt Ltd A isin Seiki Co Ltd Japan 1 1 .77
20 Acciona Windpower India Private Limited Nordex Energy Internacional SL Spain 1 1 .24
21 Ex edy Clutch India Private Limited Ex edy Corporation Japan 9.96

Max ion Wheels Aluminum India Private
22 Iochpe Maxion Austria GmbH Austria 9.31
Lim

Pw C 10
FDI
($ Mn)
Robert Bosch Automotive Robert Bosch Automotive Steering
23 Germany 8.7 6
Steering Private Limited GmbH
24 KSH Automotive Private. Limited. Saehan Industrial Co Ltd South Korea 8.24
Federal Mogul Anand
25 Federal-Mogul Investments BV Netherland 7 .42
Bearings India Limited
Webasto Roofsystems India Private WEBASTO ROOF AND
26 Germany 7 .03
Limited COMPONENTS SE
Inteva Products India Automotive Private
27 Inteva Products Netherlands B V Netherlands 6.94
Limited
Force MTU Power Systems Private
28 MTU Friedrichshafen GmbH Germany 6.87
Limited
29 ZF India Private Limited ZF Friedrichshafen AG Germany 6.67
30 Enkei Wheels India Limited Enkei Corporation Japan 6.27
31 Fukoku India Private Limited Fukoku Co Ltd Japan 6.05
Y orozu Jbm Automotive Tamil Nadu Pvt.
32 Y orozu Corporation Japan 5.94
Ltd.
33 Hi-Lex India Private L Hi-Lex Corporation Japan 5.7 6

Pw C 11
FDI
($ Mn)
34 Umicore Autocat India Pvt Ltd Umicore International S.A. Lux embourg 5.64
35 Nachi Technology India Private Limited Nachi Fujikoshi Corp Japan 5.62
36 A isan Auto Parts India Private Limited A isan Industry Co. Ltd. Japan 5.47
37 Hwashin Automotive India Private Limited Hwashin Co Ltd South Korea 5.11
38 Toyota Tsusho India Private Limited Toyota Tsusho Corporation Japan 5.00
TargetOne
39 SCI Investments VI Mauritius 4.98
Innovations Private Limited
40 HNI Autotech Pvt. Ltd. Hanil Precision Ind.Co.Ltd South Korea 3.93
Hong Kong ZhuoYuan Investment
41 LZWL Motors India Private Limited Hong Kong 3.81
Limited
42 Y amaha Motor Electronics India Pvt. Ltd. Y amaha Motor Electronics Co. Ltd Japan 3.7 9
43 L&L Products India Limited L and L Holding Co LLC U.S.A 3.46
44 DR Enterprise Automotive Private Limited The Ex port-Import Bank of Korea South Korea 3.44

Pw C 12
FDI
($ Mn)
Chongqing JieliWheel
45 Chongqing Jieli India Private Limited China 3.4
Manufacturing Co Ltd
46 Wooyoung Automotive India Private Limited Woo Young Industrial Co Ltd South Korea 3.1 8
NGC Transmission Asia Pacific

47 NGC Transmission Chennai Pvt Ltd Singapore 2.86
Pte Ltd
Otsuka V enus Automotive India Private
48 Otsuka Koki Co., Ltd. Japan 2.82
Limited
49 Piolax India Private Limited Piolax Inc., Japan Japan 2.81
50 V aleo Service India Auto Parts Private Limited V aleo Bayen France 2.81
Toyota Accessories Developmant ME India Toyota Accessories Development

51 UA E 2.80
Priv ate Limited Middle East, FZCO
52 TPR Autoparts Mfg India Pvt. Ltd. TPR Co. Ltd Japan 2.51
Toshiba Carrier Corporation,

53 Toshiba Carrier Air-Conditioning India Pvt Ltd United Technologies South A sia Japan, Singapore 2.47
Pacific
Woodbridge Foam International

54 Woodbridge Foam Private Limited Canada 2.42
Limited

Pw C 13
FDI
($ Mn)
55 Diehl Metal India Private Limited M/s Diehl Metall Stifung+ Co. Kg Germany 2.38
Gedia Automotive International

56 Gedia India Automotive Components Privat Germany 2.30
GmbH
Cooper Standard Automotive India Private

57 Cooper Standard Automotive Inc U.S.A 2.03
Limited
58 Johoku Manufacturing Pvt. Ltd. Johoku Industrial Co Ltd Japan 2.02
59 Daechang Seat Automotive Private Limited Daechang Seat CO. Ltd-Dongtan South Korea 2.01
60 Donga Hwasung India Private Limited Dong A Hwasung Co Ltd South Korea 2.00
61 Steel Strips Wheels Ltd Kalink Co Ltd South Korea 1 .95

Amalgamations Valeo
62 V aleo SA France 1 .7 6
Clutch Private Limited
63 Pritika Auto Industries Ltd Rajesh Sadhwani UAE 1 .7 5
64 V oss Automotive India Private Limited V oss Automotive GmbH Germany 1 .7 3
Thai Summit Autoparts Industry

65 Thai Summit Autoparts India Private Limited Thailand 1 .58
Company Ltd

Pw C 14
FDI
($ Mn)
66 SeoyonElectronics India Private Limited Seoyon Electronics Co., Ltd South Korea 1 .51
Automobility Services and Solutions Robert Bosch Investment Nederland

67 Netherland 1 .4
Priv ate Limited BV
68 Ky owa Castec India Pvt. Ltd. Pt. Ky owa Indonesia Indonesia 1 .4
69 Maini Precision Products. Limited. Brioso and Co Pty Ltd A ustralia 1 .4
70 Heungkuk India Private Limited Heungkuk Metal Tech Co. Ltd South Korea 1 .20
71 HMC MM Auto Limited Magneti Marelli SPA Italy 1 .15

72 TS Interseats India Pvt. Ltd.. TS Interseats Co. Ltd. Thailand 1 .12
73 Tristone Flowtech India Private. Limited. Tristone Flowtech Holding S.A.S. France 1 .08
Doowon Climate Control India Private

74 Doowon Climate Control Co Ltd South Korea 1 .07
Limited
Fortum Charge and Drive India Private
75 Fortum Star B.V. Netherlands 1 .04
Limited
76 Ogura Clutch India Private Limited Ogura Clutch Co Ltd Japan 1 .03

Pw C 15
PE Deals
Domestic PE deals in India
T ype of Deal Value
Date T arget Buyer Seller % Sought
Deal ($ m n)
V enture
2019-05-28 Ather Energy Pvt. Ltd. SachinBansal 51 .00 Undisclosed
Capital
Jupiter India Select Fund,

Hero Electric V ehicles Pvt. Jupiter India Fund, Oaks Priv ate
2019-06-10 5.00 Undisclosed
Ltd. Asset Management Pvt. Ltd., Equity
V 'Ocean Investments Ltd.
BattRE Electric Mobility Pvt.

2019-07-08 Gajendra Chandel Angel/Seed Undisclosed Undisclosed
Ltd.
V enkaiah Chowdary
2019-07-10 Pur Energy Pvt. Ltd. Angel/Seed Undisclosed Undisclosed
Nannapaneni
2019-07-23 Cellestial E-Mobility Pvt. Ltd. Angel/Seed 0.20 Undisclosed
2019-10-14 Tork Motors Pvt. Ltd. Ratan Naval Tata Angel/Seed Undisclosed Undisclosed
AutoNxt Automation Pvt.
2019-11-13 V irya Mobility 5.0 LLP A ngel/Seed Undisclosed Undisclosed
Ltd.
V enture
2019-12-10 Pi Beam Labs Pvt. Ltd. GAIL India Ltd. 0.07 Undisclosed
Capital
Westbridge Crossover Fund Public
2019-12-16 TV S Motor Co. Ltd. 21 .41 0.7 0
LLC Equity

Pw C 16
PE Deals
Domestic PE deals in India
Deal Value
Date T arget Buyer Seller T ype of Deal % Sought
($ m n)
2019-06-28 Him Teknoforge Ltd. India Automotive Public Equity 0.80 1 1 .20
Components Manufacturers
Priv ate Equity Fund –1
Domestic
2019-06-30 Spacekawa Explorations Angel/Seed 0.85 Undisclosed

Pv t. Ltd.
2019-06-30 Dr. Enterprise Korea Eximbank Others 4.00 4.00
Automotive Pvt. Ltd.
2019-07-02 Skav ion Auto Pvt. Ltd. Sucseed Venture Partners Angel/Seed Undisclosed Undisclosed
LLP
2019-09-10 Cellprop Pvt. Ltd. Endiya Partners Fund II, CIIE Angel/Seed 0.49 Undisclosed
Initiatives, Sangam V entures
2019-09-18 CEAT Ltd. India Opportunities Growth Public Equity 23.67 4.41
Fund Ltd.
2019-10-03 Mahansaria Tyres Pvt. International Finance Corp. Priv ate Equity 7 .63 Undisclosed
Ltd.
2019-12-02 ARGL Ltd. Priv ate Equity Undisclosed 1 00.00
Prophetic Venture, Growx
2020-01-30 RACEnergy V enture Management Pvt. Angel/Seed Undisclosed Undisclosed
Ltd.
2020-02-10 Praesus Technologies Pvt. V enture Catalysts Pvt. Ltd. Angel/Seed Undisclosed Undisclosed
Ltd.
2020-02-26 Apollo Tyres Ltd. Warburg Pincus LLC Public Equity 1 49.86 9.93

Pw C 17
Technology Transfers/ Strategic Collaborations
Technology Transfers/ Collaborations in India

All technology transfers, collaborations, etc. have been bucketed into five main component areas – Engine,
Suspension, Transmission, Interiors, Body & Chassis and Electrical & Electronics as per the technology flow
to take place in each automotive deal.
Similarly, all technology transfers, collaborations, etc. between or led by vehicle manufacturers have been
bucketed into five main vehicle segments – Passenger Vehicles, Commercial Vehicles, Two-Wheelers, Three-
Wheelers and Tractors. In addition, electric mobility as a category encompasses all deals in the EV space.
T echnology In Focus / Strategic
S. No. Category Nam e of Entities Involved
Intent
Collaboration on v ehicle safety and
ZF Friedrichshafen
1 Passenger Vehicles Wabco India Ltd. driveline and chassis
AG
technology.
KSS Abhishek Safety Systems Takata India Pvt.
2 Passenger Vehicles Enhancing mobility safety in v ehicles.
Pv t. Ltd. Ltd.
Launch of
3 Blockchain Tata Motors TA CNet 2.0, a platform to engage with
startups and technology companies
TCS will partner with GM, to provide
V ehicle support to its
4 General Motors TCS
Engineering v ehicle engineering programs around the
world
Partnership to set up charging stations for
Charging
5 MG Motors Delta Electronics electric
Infrastructure
v ehicles in different parts of the country.
Partnership to cross
6 Car Rentals Zoomcar Ix igo promote car rentals across
platforms
Collaboration to launch a subscription
7 Car Subscription Mahindra Revv
based service
Establishment of a services & maintenance
8 EV Infrastructure GoMechanic Rev olt Motors
partnership
9 Passenger Vehicles Mahindra & Mahindra Ford Motor Collaboration on producing new v ehicles
10 Sourcing Toyota Suzuki Collaboration on sourcing, production
Dev elopment of new connected car
11 IOT Tata Motors Microsoft
applications
Pw C 18
Technology Transfers/ Strategic Collaborations
Technology Transfers/ Collaborations in India

All technology transfers, collaborations, etc. have been bucketed into five main component areas – Engine,
Suspension, Transmission, Interiors, Body & Chassis and Electrical & Electronics as per the technology flow
to take place in each automotive deal.
Similarly, all technology transfers, collaborations, etc. between or led by vehicle manufacturers have been
bucketed into five main vehicle segments – Passenger Vehicles, Commercial Vehicles, Two-Wheelers, Three-
Wheelers and Tractors. In addition, electric mobility as a category encompasses all deals in the EV space.
Components Manufacturers
T echnology In Focus / Strategic

S. No. Category Nam e of Entities Involved
Intent
Partnership to manufacture lithium-ion
Napino Auto &
1 EV Batteries Farasis Energy battery packs for two and three-wheelers in
Electronics
India
Joint V enture in India for collaboration in

Al-Air Battery the field of Al-Air battery system including
2 Phinergy Ltd. Indian Oil Corporation Ltd.
Sy stems sell and service of aluminium-air energy
sy stems technology
Pw C 19
Disclaimer
This document has been prepared solely for [ACMA] Automotive Component Manufacturers Association of India, being the
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Executive Summary of Automotive deals and FDI in India

Mergers and Acquisitions (M&A) M&A for Vehicle

FDI investments in India FDI into Vehicle

Domestic PE deals in India PE Deals -Vehicle

Scope of this report – April ’1 9 – March ‘20 Source: Pw C Research, DIPP

Automotive M&A deals in India

M&A Deals in India

Largest Deal by Value

Scope of this report – April ’1 9 – March ‘20 Source: Pw C Research

Automotive M&A deals in India

M&A Deals in India

Alucast Auto Parts Ltd.,

Largest Deal by Value

Scope of this report – April ’1 9 – March ‘20 Source: Pw C Research

FDI investments in Automotive sector in India

FDI investments in India

2 Renault India Private Limited Renault Group BV Netherlands 21 3.49

Accel Growth Fund V L.P, Accel India V

8 PCA Automobiles India Ltd PSA Automobiles SA France 56.65

Largest Deal by Value

FDI investments in Automotive sector in India

FDI investments in India

Kalaari Capital Partners, Lightstone

13 Mahindra Two Wheelers Limited Aay Kay Global Mauritius 1 4.77

Largest Deal by Value

FDI investments in Automotive sector in India

FDI investments in India

Matrix Partners India Investments

Infraprime LogisticsTechnologies Private.

Great Wall Motor Company

29 Pravaig Dynamics Private. Limited. V ouno S.A.R.L. Lux embourg 1

Largest Deal by Value

FDI investments in Automotive sector in India

FDI investments in India

7 Mitsuba Sical India Private Limited Mitsuba Corporation Japan 21 .12

Largest Deal by Value

FDI investments in Automotive sector in India

FDI investments in India

17 PSA AVTEC Powertrain Private Limited PSA Automobiles SA France 1 2.65

21 Ex edy Clutch India Private Limited Ex edy Corporation Japan 9.96

Largest Deal by Value

FDI investments in Automotive sector in India

FDI investments in India

Largest Deal by Value

FDI investments in Automotive sector in India

FDI investments in India

43 L&L Products India Limited L and L Holding Co LLC U.S.A 3.46

Largest Deal by Value

FDI investments in Automotive sector in India

FDI investments in India

NGC Transmission Asia Pacific

Toyota Accessories Developmant ME India Toyota Accessories Development

Toshiba Carrier Corporation,

Woodbridge Foam International

Largest Deal by Value

FDI investments in Automotive sector in India

FDI investments in India

Gedia Automotive International