Uno Minda has approved a project to manufacture high-voltage electric vehicle powertrain components in India, with a total investment of approximately INR 4.23 billion. The project will be implemented through a joint venture with Inovance Automotive and its subsidiary Inovance Automotive (HK) Investment Co. Ltd. The proposed manufacturing facility will focus on products such as combined charging units, e-axles, inverters, and motors for four-wheeler passenger and commercial electric vehicles.
The board of directors has approved the Detailed Project Report (DPR), with production capacity targeted at 203,043 units annually. The start of production is expected in the second quarter of FY 2026-27, with full capacity planned within three years of operations.
Uno Minda will initially hold 100% equity in the joint venture company, Uno Minda Auto Innovations Private Limited. Inovance Automotive will subsequently acquire a 30% equity stake, subject to regulatory approvals. Uno Minda’s investment will total approximately INR 1.14 billion over three years, representing its 70% equity share in the joint venture.
Uno Minda Auto Innovations was incorporated on April 5, 2023, and is engaged in manufacturing automotive components, including electrical parts. The company reported no turnover for FY 2023-24, as it is in the early stages of operation.
Uno Minda Limited is an India-based manufacturer of automotive components, with operations spanning electrical and electronic parts, lighting systems, and other mobility solutions for both two- and four-wheelers.