Hinduja Tech secures $50m investment from Creador for sustainable mobility engineering
In a significant move for the sustainable mobility sector, Hinduja Tech Limited (HT), a subsidiary of Ashok Leyland and part of the multibillion-dollar Hinduja Group, has announced a strategic partnership with private equity firm Creador. The agreement sees Creador investing $50 million for a 19.6% shareholding in Hinduja Tech, valuing the company at a post-money equity value of $255 million. This investment underscores Hinduja Tech’s ambition to emerge as a global leader in engineering R&D services, specifically focusing on sustainable engineering mobility services.
The capital infusion from Creador is set to significantly enhance Hinduja Tech’s capabilities in both organic and inorganic research and development. Additionally, it will expand the company’s global footprint and state-of-the-art labs, propelling its journey towards leadership in sustainable engineering mobility services. Hinduja Tech has been at the forefront of innovation within the mobility industry, collaborating with numerous entities to support development and production across various segments, including buses, sports cars, electric, and autonomous vehicles.
Kumar Prabhas, CEO of Hinduja Tech, expressed enthusiasm about the partnership with Creador, noting the company’s decade-long expertise and ambitious growth plans in the sustainable engineering mobility segment. “This investment will allow Hinduja Tech to accelerate its global growth plans,” Prabhas stated, highlighting the investment as a testament to Hinduja Tech’s innovative spirit and proven track record in the automotive and adjacent industries.
Anish Kedia, Director at Creador, echoed this sentiment, emphasizing Hinduja Tech’s established position in the mobility ER&D industry with marquee customers worldwide. Kedia believes that Hinduja Tech, with its deep engineering, powertrain, and electronics capabilities, is well-positioned to create sustainable and profitable mobility solutions for the future.
The announcement follows a year of considerable achievements for Hinduja Tech, including the acquisition of Drive System Design, a company specializing in e-powertrain design based in the UK and US. This move, among other milestones, demonstrates Hinduja Tech’s commitment to leading the rapidly evolving mobility landscape and offering innovative solutions to its clients.
The strategic investment by Creador in Hinduja Tech marks a pivotal moment for the global sustainable mobility sector. It not only enhances Hinduja Tech’s capabilities and global presence but also signifies the growing importance of sustainable solutions in the engineering and R&D services industry. As companies worldwide accelerate towards greener, more sustainable mobility solutions, partnerships like these are crucial in driving innovation and growth in the sector.