Spark Minda and Turntide Technologies form JV to develop EV powertrain solutions for India

Minda Corporation Limited (an automotive component manufacturing company under the Spark Minda brand) announced a joint venture agreement with Turntide Technologies to develop and manufacture vehicle powertrain components for the electric vehicle market in India.

The announcement was made on March 10, 2026. The joint venture is subject to regulatory approvals. Under the agreement, Minda Corporation, through its wholly owned SPV, will hold a 49% stake in the venture, while Turntide Technologies will hold 51%.

The joint venture will focus on the development and manufacturing of motor controllers, electric motors, pumps for thermal applications, and other controllers for electric vehicle applications in India. According to the companies, the collaboration aims to bring Turntide’s technology to the Indian market and manufacture products locally to meet domestic requirements.

The companies stated that India’s electric vehicle market is expanding due to policy initiatives and demand for transportation alternatives. The joint venture is expected to combine the capabilities of Minda Corporation and Turntide Technologies to support development timelines and the supplier ecosystem for electric vehicles. The venture aims to supply components to OEMs and manufacture products locally.

Ashok Minda, Chairman and Group CEO of Minda Corporation Limited, said “This partnership with Turntide marks a significant milestone in our journey towards electrification. By combining Turntide’s globally proven technology with Minda Corporation Limited’s strong local presence, we aim to deliver advanced, high-quality, and cost-competitive EV powertrain solutions that support India’s transition to sustainable mobility. This will result to meet ‘Make in India’ objectives and enhance the resilience of domestic supply chain of EV ecosystem.”

Steve Hornyak, CEO of Turntide Technologies, said “India’s electrification growth story is central to Turntide’s strategy, and this joint venture is a key step in bringing our powertrain technologies closer to customers in the market. We’re proud to partner with Minda Corporation, a fantastic team with decades of experience serving global OEMs, as we deliver localized, high-performance solutions for India’s rapidly evolving mobility ecosystem.”

Also read: Minda Corporation to acquire 49% stake in Flash Electronics for INR 1,372 crore