Auto components maker Lumax Auto Technologies Ltd has acquired a 60% stake in Greenfuel Energy Solutions' alternate fuels business for Rs 153.09 crore. The acquisition, facilitated through its subsidiary Lumax Resources Pvt Ltd, aims to enter the green fuels segment, including hydrogen applications. This strategic move is expected to tap into the accelerating growth of the green and alternate fuels market. Greenfuel Energy Solutions, a supplier to major OEMs, provides high-pressure fuel delivery and storage systems for CNG and hydrogen vehicles, along with fire and smoke alarm systems for the automotive industry. Lumax Auto Technologies sees this acquisition as a significant step towards providing high-quality solutions to customers in the expanding CNG vehicle market, particularly in the passenger vehicle segment. The collaboration between Lumax Auto Technologies and Greenfuel Energy Solutions is anticipated to drive value for stakeholders, foster innovation in the automotive industry, and promote the transition to cleaner and sustainable mobility solutions.