Uno Minda has received approval from its board of directors for establishment of a new greenfield plant dedicated to the manufacturing of high-voltage category powertrain products for four-wheeler passenger and commercial electric vehicles. These products include Combined Charging Units, E-Axles, Inverters, and Motors.
The project will initially be executed through the company’s wholly-owned subsidiary, ‘Uno Minda Auto Innovations'. Subsequently, subject to necessary regulatory approvals, this entity will be converted into a joint venture company with Suzhou lnovance Automotive Co. (lnovance Automotive). Upon conversion, the company will eventually hold a 70% equity stake in the joint venture. The company is evaluating the location for the plant basis the proximity to the customer and other investment benefits.
The company has already secured e-axle order from a key anchor customer. The total project cost is estimated at around Rs 423 crore, which will be funded through a combination of debt and equity. Capital expenditure will be phased over the next three years, with Phase 1 expected to be commissioned by Q2 FY27. The establishment of this new plant will significantly enhance the company’s capabilities in the rapidly expanding electric vehicle market, further solidifying its position as a key player in the automotive industry's transition to sustainable mobility.
Uno Minda is engaged in the business of manufacturing of auto components including auto electrical parts and its accessories and caters to both domestic and international markets.
