Tata AutoComp To Acquire IAC Slovakia To Strengthen Its European Market Reach

Tata AutoComp, through its subsidiary Artifex Interior System Limited, will completely acquire International Automotive Components Group (IAC) Slovakia. IAC Slovakia supplies interior and exterior components to Jaguar Land Rover and Volkswagen. This acquisition will help Tata AutoComp further strengthen its customer base in the European market. The completion of the deal is subject to regulatory approvals. 

This isn’t the first time Tata AutoComp has acquired a branch of the IAC Group. It began by announcing its plans to acquire IAC Sweden and Artifex in March. Artifex was previously known as IAC UK. 

Tata AutoComp is a key supplier of Tesla, which has just entered India with its first product – Model Y. Recent reports suggest that Tata Group and Tesla are joining hands to start work in India, which could mean Tata AutoComp will become a key supplier of EV components globally. 

Arvind Goel, Vice-Chairman of Tata AutoComp, said, “Following our earlier acquisition of Artifex, this step strengthens our European presence and reflects our commitment to serving global OEMs more effectively. This move supports our vision to be a trusted and value-driven partner in the global automotive supply chain.”

IAC Slovakia employs around 800 professionals and earned a revenue of $190 million (roughly ₹1,491 crore) in the Financial Year 2024 (FY24). IAC Slovakia produces exterior and interior components like door and trims, pillars, instrument clusters, cockpits and consoles.