Spark Minda to license EDS technology from Sanco for local EV component production

Minda Corporation Limited (Minda Corp; NSE: MINDACORP, BSE: 538962), an automotive component manufacturer and part of the Spark Minda group, has entered into a Technology Licensing Agreement with Sanco Connecting Technology, Guangdong, China, a provider of Electric Vehicle (EV) connection systems. The agreement aims to expand Minda Corp’s product offerings in the EV market, focusing on Electrical Distribution Systems (EDS).

The partnership will focus on the local development of EV connection systems, charging gun assemblies with sockets and accessories, bus bars, cell contact systems, Power Distribution Units (PDU), and Battery Distribution Units (BDU). This collaboration aims to support the local design, development, and manufacturing of advanced EDS solutions for the EV market in India, enhancing the vertical integration capabilities of Minda Corporation’s Wiring Harness Division and strengthen its role in the EV supply chain.

Commenting on this development, Mr. Aakash Minda, Executive Director said, “We are excited to partner with Sanco, a collaboration that marks a significant milestone in our pursuit to deliver comprehensive and customised Electrical Distribution System (EDS) solutions to the EV market. This partnership signifies our shared commitment to offer innovative & sustainable mobility solution for the growing Electric Vehicle industry. By offering new age EV solutions, we will enhance the overall kit value across vehicle segments, with a commitment to achieve successful localization, delivering greater value for our customers.”

Mr. Zhijian Zeng, Chairman of Sanco Connecting Technology (Guangdong) Co., Ltd., stated, “Sanco has chosen Minda Corporation as a strategic partner to expand our global footprint. This collaboration will significantly boost Sanco’s presence in India’s expanding EV market. By leveraging Minda Corporation’s strong relationships with global automakers and extensive local production and engineering capabilities, we aim to deliver world-class, technology-backed solutions to Indian OEMs.”

Also read: Spark Minda secures INR 750 crore order to produce EV chargers