Minda Corp Subsidiary Incorporates New JV, Spark Minda Turntide Private Ltd
Minda Corporation Ltd's wholly-owned subsidiary, Spark Minda Green Mobility Systems Private Limited (SMGM), has incorporated a new joint venture entity named "Spark Minda Turntide Private Limited" on April 11, 2026. This follows a Joint Venture Agreement signed on March 9, 2026, with Turntide Drives Limited from the United Kingdom. The JV aims to develop and manufacture advanced new generation motor controllers, axial flux motors, pumps for thermal applications, and other customized controllers primarily for India's growing Electric Vehicle (EV) segment. SMGM will hold a 49% stake in the new JV company, while Turntide Drives Limited will hold 51%. The board of the JV company will comprise five directors, with two nominated by SMGM and three by Turntide.
Key Highlights
- New JV company "Spark Minda Turntide Private Limited" incorporated.
- JV formed between Minda Corp's subsidiary and Turntide Drives (UK).
- Focus on EV segment: motor controllers, axial flux motors, thermal pumps.
- SMGM holds 49% stake, Turntide holds 51% in the new JV.
- JV board will have 5 directors: 2 from SMGM, 3 from Turntide.