Tata AutoComp Systems Ltd, a prominent Indian automotive components manufacturer and part of the Tata Group, has acquired an 80% stake in Artifex Interior Systems Limited, formerly known as IAC UK. This acquisition was made through Jaguar Land Rover Ventures Limited (JLRV), a subsidiary of Jaguar Land Rover Limited, which is in turn owned by Tata Motors Limited.
The deal, finalized on March 28, 2025, saw Tata AutoComp pay GBP 77 million (approximately Rs 827 crore) for the majority stake, with an additional deferred payment of GBP 6.3 million (roughly Rs 68 crore) contingent on certain conditions. As a result of the acquisition, both JLRV and Artifex Interior Systems Limited are no longer subsidiaries of Tata Motors Limited.
This acquisition follows Tata AutoComp’s purchase of IAC Sweden earlier in March, a company that had filed for bankruptcy in June 2024 and was under Swedish bankruptcy court administration at the time of the acquisition. Artifex, which reported a revenue of GBP 296 million (Rs 3,182 crore) for the fiscal year 2024-2025, contributes approximately 0.98% to Tata Motors Limited’s consolidated revenue. The company operates manufacturing sites in Elmdon, Scunthorpe, and Halewood, employing about 1,800 people. Artifex supplies interior components to prestigious brands such as Jaguar Land Rover, BMW Mini, Bentley, INEOS, and Toyota.
The company’s technological expertise includes plastic molding, lamination, slush molding, sewing, leather wrapping, and precision assembly. Artifex manufactures products like instrument panels, consoles, headliners, door trims, gloveboxes, pillars, armrests, and rear environment components.
Arvind Goel, Vice Chairman of Tata AutoComp Systems, stated, “We are excited to welcome Artifex to the Tata AutoComp family. This acquisition supports our vision to expand our global presence and enhance our capabilities in automotive interior systems. Artifex’s advanced manufacturing processes and strong customer relationships will help us make significant strides in key markets and drive long-term growth.”
Manoj Kolhatkar, MD & CEO of Tata AutoComp, added, “Artifex’s technical prowess and advanced manufacturing capabilities further solidify our technological leadership and strengthen our position in the premium automotive segment.”
The acquisition of Artifex, along with IAC Sweden, is part of Tata AutoComp’s strategy to expand its footprint in the global automotive interior systems sector, particularly in Europe. These acquisitions provide Tata AutoComp with access to skilled engineering talent and closer ties to long-established OEM relationships in the region.
Along with Artifex’s revenue contribution, IAC Sweden reported a turnover of approximately $800 million (Rs 6,382 crore). Together, these two acquisitions could potentially increase Tata AutoComp’s turnover by around Rs 10,000 crore.
IAC Sweden, which supplies interior components such as instrument panels, door panels, and center consoles to OEMs across Europe, operates manufacturing and engineering facilities in Sweden. Its customer base includes Volvo and Scania, and it specializes in advanced injection molding, surface decoration, and trim assembly, serving the Scandinavian and Northern European markets.
Founded in 1995, Tata AutoComp operates 61 manufacturing plants globally and employs over 20,000 people. The company oversees 18 business units, including nine joint ventures with global component makers. Tata AutoComp provides components and systems to OEMs in various sectors, including passenger and commercial vehicles, electric mobility, two- and three-wheelers, tractors, off-road vehicles, and aftermarket services.
Tata AutoComp reported a revenue of approximately $2.1 billion. The company has consistently outperformed expectations and aims to continue growing at a pace faster than the industry average. In addition to increasing its global presence, Tata AutoComp is focused on doubling the share of exports in its revenue over the next five years.
“Currently, we are at 16-17%, and our goal is to increase that to 30% in the next five years,” Goel shared at the Bharat Mobility Global Expo 2025. He highlighted the opportunity for growth in both the electric vehicle (EV) and internal combustion engine (ICE) sectors, emphasizing that Indian ICE suppliers can expand their export potential, given India’s growing market.
Goel also stressed the need for localization, aligning with India’s broader economic goals. “The Indian government must conserve foreign exchange, and therefore, the industry needs to reduce its reliance on imports by developing products locally,” he said.
In addition to automotive interior systems, Tata AutoComp is also working on localizing cutting-edge technologies, such as dual-clutch transmissions and LVDS cameras. With a stronger foothold in the European market, Tata AutoComp plans to diversify its product offerings for global markets.
