The Company was incorporated in India in the year 2002, as a 51:49 Joint Venture between a French automotive electronics company and DMGFI Group (India). In 2023, the French partner decided to exit the Joint Venture and exercised their put option right. In turn, the entire shareholding was offered to DMGFI Group.
DMGFI Group agreed to acquire the complete shareholding in India. Post this demerger and Share Purchase, the Company is now re-christened as Deva Autotronics Private Limited.