Uno Minda has received approval to increase stake in UnoMinda EV Systems (UMEV) from 50.10% to 100%, by acquiring additional equity stake from its joint venture partner FRIWO Geratebau GmbH (FRIWO). Along with additional stake, the company through its subsidiaries will also acquire the Intellectual Property Rights, the know-how and R&D Team relating to the e-Drives Business technologies including the required control hardware and service software, from FRIWO's locations in Germany and Vietnam. The purchase consideration for additional 49.9% stake in UMEV the shares, e-drive technologies and assets are around Rs 195 crore. The transaction is expected to be consummated by end of Q1FY26. The Board of the company has approved the same.
India is witnessing a surge in the adoption of electric two-wheelers, with a projected exponential growth in the next five years. This presents a significant opportunity for Uno Minda to capitalize on the expanding e-mobility market. 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. UMEV has rapidly emerged as a leading manufacturer of cutting-edge EV components, offering best-in-class and innovative solutions such as on-board chargers, off-board chargers, battery management systems, motor control units, and vehicle control units. UMEV has built a strong order book, positioning it for significant growth in the coming years.
Uno Minda (formerly Minda Industries) is a leading global manufacturer of proprietary automotive solutions and systems supplying to OEMs as Tier-1.
| Company Name | CMP |
|---|---|
| SamvardhanaMotherson | 125.00 |
| Tube Investments | 2789.65 |
| Bosch | 37505.60 |
| UNO Minda | 1097.30 |
| CIE Automotive India | 490.15 |
| View more.. | |
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