Uno Minda Board Approves ₹423 Crore Investment for EV Powertrain Project

Joint venture with Inovance Automotive to develop and manufacture high-voltage components for electric vehicles with production planned to begin in Q2 FY 2026-27.

Shruti ShiraguppiBy Shruti Shiraguppi calendar 30 Apr 2025 Views icon2901 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Uno Minda Board Approves ₹423 Crore Investment for EV Powertrain Project

Uno Minda Limited announced that its Board of Directors has approved a Detailed Project Report for a 4W-EV project with a total investment of approximately ₹423 crores. The project will focus on developing and manufacturing high-voltage components for four-wheeler electric vehicles, including combined charging units, e-axles, inverters, and motors.

The announcement follows the company's earlier disclosure on February 17, 2025, regarding a joint venture agreement with Uno Minda Auto Innovations Pvt. Ltd., Suzhou Inovance Automotive Co. Ltd., and Inovance Automotive (HK) Investment Co. Ltd.

Under the approved plan, Uno Minda will invest approximately ₹114 crores in the joint venture company's equity capital, representing a 70% stake. This investment will be made over the next three years. Initially, Uno Minda will hold 100% equity in the joint venture until Inovance Automotive (HK) Investment Co. Ltd. obtains necessary regulatory approvals, after which the Chinese partner will acquire a 30% equity stake.

The project aims to establish a manufacturing capacity of 203,043 units per year, with start of production scheduled for the second quarter of the financial year 2026-27. The full capacity is expected to be achieved within three years of commencing operations.

The joint venture will operate through Uno Minda Auto Innovations Private Limited, a wholly-owned subsidiary of Uno Minda that was incorporated on April 5, 2023. The financing for the project will come through a combination of equity and term loans.

The Board meeting where these decisions were made began at 10:30 A.M. and concluded at 10:50 A.M. on April 30, 2025. The company has made the disclosure in compliance with SEBI regulations and has stated that the information is also available on its website.

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