HAMAMATSU — Major Indian auto parts supplier Samvardhana Motherson International plans to soon acquire Atsumitec, a Honda Motor-affiliated transmission and engine components maker hoping to navigate the transition to electric vehicles.
Motherson will own 95% of the company, and Honda will keep a 5% stake, when the 8.5 billion yen ($56 million) transaction closes as early as March. Atsumitec — based in Hamamatsu, between Tokyo and Nagoya — will retain its name and current President Hideyuki Suzuki.
