Uno Minda to acquire 49.9% remaining stake in UMEV for INR 195 crores

Uno Minda will acquire the remaining 49.9% stake in JV with FRIWO and associated e-drive technologies for INR 195 crores. Uno Minda had established UnoMinda EV Systems Pvt Ltd (UMEV) in December 2021 as a joint venture with FRIWO. The company will now increase its stake in UMEV from 50.1% to 100%.

UMEV offers onboard and offboard chargers, battery management systems, motor control units, and vehicle control units and has built a strong order book. The company recently inaugurated its greenfield plant at Farukhnagar, Haryana.

• Uno Minda, through its subsidiaries, will also acquire the Intellectual Property Rights, know-how, and R&D Team related to the e-Drives Business technologies, including the required control hardware and service software, from FRIWO’s locations in Germany and Vietnam.

• The e-drive technologies comprise electric powertrain solutions for e-2Ws and e-3Ws.

• The transaction is expected to be consummated by the end of Q1FY26.

With the acquisition of e-Drive technologies, Uno Minda will strengthen its capabilities and explore new avenues for growth, including potential export opportunities beyond the Indian market.

Mr. Nirmal K Minda, CMD, Uno Minda Group, says, “We are extremely grateful to FR/WO for their partnership and valuable contributions to the success of UMEV over the years. With the acquisition of the remaining stake and the integration of e-Drive technologies, we are confident that UMEV will further strengthen its position as a leader in the Indian EV systems market. We see immense growth potential in the Indian electric vehicle market, particularly in the two-wheeler segment, and this acquisition will enable us to capitalize on this opportunity and explore new avenues for growth.”