Uno Minda's board nod to setup greenfield plant for EV powertrain components
The company will produce components such as combined charging units, e-axles, inverters and motors.
The project will initially be executed through the companys 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.
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.
Uno Minda is a leading global manufacturer and supplier of advanced automotive technology and systems to OEMs. They design and manufacture over 25 categories of components and systems for vehicles across all segments (passenger cars, commercial vehicles, two- and three-wheelers) catering to both internal combustion engines (ICE) and electric/hybrid vehicles.
The companys consolidated net profit jumped 20.2% to Rs 232.56 crore in Q3 FY25 as compared with Rs 193.46 crore in Q3 FY24. Net sales increased 18.8% YoY to Rs 4183.99 crore during the quarter ended 31st December 2024.
The counter rose 0.02% to end at Rs 894.30 on Wednesday, 30 April 2025.
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