Joint Venture9 Mar 2026, 08:32 pm
Minda Corporation Ltd. Signs Joint Venture Agreement with Turntide Drives Limited for EV Segment
AI Summary
Minda Corporation Ltd. has signed a Joint Venture Agreement with Turntide Drives Limited for the development and manufacturing of advanced new generation motor controllers, axial flux motors, pumps for thermal applications, and other customized controllers tailored primarily for India’s growing EV segment. The joint venture will be operational through a new joint venture entity in India, with 49% shareholding by Spark Minda Green Mobility Systems Private Limited, India, and 51% by Turntide Drives Limited, United Kingdom.
Key Highlights
- Joint Venture for development and manufacturing of advanced EV components
- Shareholding of 49% by Spark Minda Green Mobility Systems Private Limited, India, and 51% by Turntide Drives Limited, United Kingdom
- Focus on India’s growing EV segment
- Incorporation of a new joint venture entity in India
- Advanced new generation motor controllers, axial flux motors, pumps for thermal applications, and other customized controllers in the product portfolio