Joint Venture30 Apr 2025, 11:10 am
Uno Minda Ltd. Approves Rs. 423 Crores Project for 4W-EV and Acquires 70% Stake in Uno Minda Auto Innovations Private Limited
AI Summary
Uno Minda Ltd. has approved a Detailed Project Report ('DPR') for a 4W-EV project and will invest approximately Rs. 114 crores for a 70% stake in Uno Minda Auto Innovations Private Limited. This joint venture will focus on developing and manufacturing high voltage category 4W PV & CV EV Powertrain Products like Combined Charging Units, E Axle, Inverter, Motors etc. The total project cost is estimated to be Rs. 423 crores.
Key Highlights
- Uno Minda Ltd. approves Rs. 423 crores project for 4W-EV
- Company to invest approximately Rs. 114 crores for a 70% stake in Uno Minda Auto Innovations Private Limited
- Joint venture to focus on developing and manufacturing high voltage category 4W PV & CV EV Powertrain Products
- Investment to be made over a period of next 3 years
- JV Partner to acquire 30% equity stake in the JV Company post regulatory approvals