Uno Minda has contracted a new EV systems plant in Farukhnagar, Haryana under a joint venture with FRIWO AG Germany.
This new plant will manufacture On-Board Charger, Off-board chargers, Motor Control Units, DCDC converters, Battery Management Systems, and many more products catering to EV 2-wheelers and 3-wheelers.
Supplies from this plant have already started and are expected to further ramp-up in coming quarters.
In August 2023, Uno Minda commissioned its second new EV systems plant under its subsidiary Uno Minda Buehler Motor Private Limited (UMBM) in Bawal, Haryana.
The plant will manufacture traction motors/BLDC motors for EV 2-wheelers and 3-wheelers.
UMBM has already received orders from OEMs and is expected to start supplies by Q3 FY24.
The company has also received new orders with an annualized peak value of more than Rs 600 crore for EV systems during the Q1 FY24.
The aggregate order book now stands at more than Rs 2,500 crore annualized peak value from EV OEMs comprising both existing and EV specific products.
The company is targeting to achieve Rs 1500 crore in revenue from EV systems by FY26.
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