Minda Corporation and Turntide Technologies Form Joint Venture for Indian EV Market

Minda Corporation Limited and Turntide Technologies announced a strategic joint venture agreement on Tuesday, subject to regulatory approvals, aimed at developing and manufacturing advanced powertrain components for India's growing electric vehicle industry. Under the agreement, Minda Corp will hold a 49 percent stake through a wholly owned special purpose vehicle, while Turntide will hold the remaining 51 percent.

The joint venture will concentrate on the development and local production of high- and low-voltage motor controllers, high-performance electric motors, thermal application pumps, and customised controllers designed for India's EV segment. The companies said the arrangement is intended to localise Turntide's existing global technology to meet domestic market requirements.

India's electric vehicle market has expanded significantly in recent years, supported by government policy initiatives and rising consumer demand for lower-emission transport options. The venture is designed to serve original equipment manufacturers operating in the country, with a focus on meeting performance and quality standards while achieving cost advantages through domestic manufacturing.

Minda added that the venture aims to support India's transition to sustainable mobility and contribute to the government's Make in India objectives while strengthening the domestic EV supply chain.

Hornyak described Minda Corporation as a team with decades of experience serving global OEMs and said the partnership would enable the delivery of localised, high-performance solutions for India's mobility sector.

Minda Corporation, incorporated in 1985, is a flagship company of the Spark Minda group and one of India's leading automotive component manufacturers, with a product portfolio spanning mechatronics, information and connected systems, and plastic and interior components. Turntide Technologies designs and manufactures electric motors, power electronics, energy storage, and thermal equipment, with operations in North America, the United Kingdom, and India.