Lumax Auto Technologies announced that it has signed an agreement to acquire a majority stake in Greenfuel Energy Solutions from its current shareholders. The financial terms of the deal have not been disclosed. This acquisition will allow Lumax Auto to expand into the growing green and alternative fuels sector, which is expected to see significant growth in the coming years, according to a company statement.
Greenfuel specializes in high-pressure fuel delivery and storage systems for CNG and hydrogen vehicles. It also provides fire and smoke detection, alarm, and suppression systems for the automotive industry. Among its clients are leading automakers such as Maruti Suzuki, Tata Motors, and Volvo Eicher Commercial Vehicles.
“With the CNG vehicle market poised for substantial growth, particularly in the passenger vehicle segment, we aim to use this platform to deliver high-quality solutions to our customers and establish ourselves as leaders in the alternative fuels systems and components market,” said Deepak Jain, Promoter Director of Lumax Auto.
Greenfuel founder and CEO Akshay Kashyap added that the partnership will create significant value for both companies and drive innovation in the automotive industry, supporting the transition to cleaner, more sustainable mobility solutions.
Lumax Auto Technologies is a leading player in the Indian automotive components industry, specializing in a diverse range of products for both two-wheelers and four-wheelers. As part of the larger Lumax-DK Jain Group, the company has established itself as a key supplier to major original equipment manufacturers (OEMs) in India, providing solutions such as lighting systems, chassis, and other critical components.
With a strong focus on innovation and quality, Lumax Auto continually invests in new technologies to meet evolving industry demands, including a recent foray into the green and alternative fuels segment. This strategic expansion reflects the company’s commitment to sustainability and future-oriented mobility solutions.
