L.T. Elevator Expands into Global Automated Parking Market with DYPC Acquisition

L.T. Elevator Limited has signed an agreement to acquire a 66.45% stake in South Korean automated parking specialist DYPC Inc., also known as Dongyang PC. The transaction marks the Indian company’s entry into the international automated mechanical parking market.

Under the agreement, L.T. Elevator will purchase the stake at USD 2.85 per share, with the intention of moving towards full ownership. 

The acquisition will give L.T. Elevator access to DYPC’s proprietary technology portfolio, which includes 12 international patents and automated parking systems marketed under the Smart Parking, Ace Parking and Grand Parking product lines. Integrating this intellectual property will allow the company to develop and deliver systems without relying on external design licences.

Based in Seoul, DYPC manufactures rotary, tower and other mechanical parking systems. Its technology has already been deployed in markets including the United States, United Kingdom, Canada, Mexico, Thailand, Egypt and Uruguay. L.T. Elevator plans to use DYPC’s international distribution network to strengthen its presence across Asia, Europe, the Middle East and the Americas.

The South Korean technology will also complement L.T. Elevator’s ParkSmart parking division and its expanding manufacturing operations in India. The company is developing an integrated facility in West Bengal that is scheduled to begin operations during the fourth quarter of FY27, supporting the local production of elevators and automated parking equipment.

Through the acquisition, L.T. Elevator aims to combine its project execution and manufacturing capabilities with DYPC’s established technology, patents and international market presence. The company expects growing urban density and increasingly restrictive parking requirements to support demand for automated and space-efficient parking systems in India and other global markets.

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