Uno Minda to setup greenfield plant for four wheeler EV Powertrain products

Uno Minda Limited, a leading global supplier of advanced automotive technology and systems to original equipment manufacturers (OEMs), today announced that its Board has approved the establishment of a new greenfield plant dedicated to the manufacturing of high-voltage category powertrain products for four-wheeler passenger and commercial electric vehicles. These products include Combined Charging Units, E-Axles, Inverters, and Motors.

The project will initially be executed through Uno Minda's wholly-owned subsidiary, "Uno Minda Auto Innovations Private Limited." Subsequently, subject to necessary regulatory approvals, this entity will be converted into a joint venture company with Suzhou lnovance Automotive Co. Ltd. (lnovance Automotive). Upon conversion, Uno Minda will eventually hold a 70% equity stake in the joint venture. The company is evaluating the location for the plant basis the proximity to the customer and other investment benefits.

Uno Minda has already secured e-axle order from a key anchor customer. The total project cost is estimated at approximately Rs 423 Crore, which will be funded through a combination of debt and equity. Capital expenditure will be phased over the next three years, with Phase 1 expected to be commissioned by Q2 FY27.

The establishment ofthis new plant will significantly enhance Uno Minda's capabilities in the rapidly expanding electric vehicle market, further solidifying its position as a key player in the automotive industry's transition to sustainable mobility.

Mr Ravi Mehra, Managing Director, Uno Minda Group said; "This investment underscores Uno Minda's commitment to driving the future of electric mobility in India. By establishing this state-of-the-art facility, we will be well-positioned to meet the growing demand for highvoltage EV powertrain solutions. Our partnership with lnovance Automotive brings together our respective strengths and will enable us to deliver cutting-edge technology to our customers."

Shares of Minda Industries Limited was last trading in BSE at Rs. 877.05 as compared to the previous close of Rs. 894.30. The total number of shares traded during the day was 18974 in over 1660 trades.

The stock hit an intraday high of Rs. 908.00 and intraday low of 871.00. The net turnover during the day was Rs. 16776051.00.

Source : Equity Bulls

Keywords

UnoMinda INE405E01023 GreenfieldPlant EVPowerTrainProducts