Uno Minda Limited has 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 Inovance Automotive Co. Ltd. (Inovance 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 of this 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.
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 high-voltage EV powertrain solutions. Our partnership with Inovance Automotive brings together our respective strengths and will enable us to deliver cutting-edge technology to our customers.”
Click Here to get the latest EV news and exclusive updates from EV Mechanica on WhatsApp!