Uno Minda board approves the electric 4W powertrain component project

Uno Minda Limited has announced that its Board of Directors approved the Detailed Project Report (DPR) for a new joint venture focused on the development and manufacturing of high-voltage electric vehicle (EV) powertrain components for four-wheeler passenger and commercial vehicles, during a meeting held on April 30, 2025. This initiative is part of a previously disclosed joint venture agreement with Uno Minda Auto Innovations Pvt. Ltd. (India), Suzhou Inovance Automotive Co. Ltd. (China), and its wholly-owned subsidiary, Inovance Automotive (HK) Investment Co. Ltd. The JV Company is Uno Minda Auto Innovations Pvt. Ltd., an already incorporated wholly-owned subsidiary of Uno Minda in India.

Project overview:

• Total Project Cost: Approximately ₹423 crore.

• Product Scope: Development and manufacturing of high-voltage EV powertrain components for electric 4W passenger and commercial vehicles, including combined charging units, e-axles, inverters, and motors.

• Proposed Capacity Addition: 203,043 units per year.

• Timeline: Start of production is targeted for the second quarter of FY 2026-27, with capacity addition to be achieved by the third year of full operations.​

• Financing: The project will be financed through a combination of equity and term loans.

• Investment Structure: Uno Minda plans to invest around ₹114 crore in the equity capital of the joint venture company, representing a 70% equity stake in the JV. This investment will be made over the next three years. Inovance Automotive (through its Hong Kong subsidiary) will invest in 30% equity shares of the JV company. The equity investment by Inovance HK Investment Co. Ltd. is subject to regulatory approvals. Until approvals are granted, Uno Minda will retain 100% equity control of the JV company.

Uno Minda has no existing capacity for the proposed products, and capacity utilization is not applicable. The project supports its strategy to expand in the EV sector.

Also read: Uno Minda to acquire 49.9% remaining stake in UMEV for INR 195 crore