Minda Corp, a leading automotive component manufacturer in India, has bagged a Rs 750 crore order to supply EV chargers to a major automaker. The order will be fulfilled by Spark Minda Green Mobility Systems, a joint venture between Minda Corp and Spark Power.
The EV chargers will be manufactured at Spark Minda’s greenfield manufacturing facility in Chakan, Maharashtra. The facility is expected to be operational by the end of 2023 and will have a capacity to produce 100,000 EV chargers per year.
The order is a major boost for Minda Corp’s EV charging business. The company is already a leading supplier of EV components, such as battery packs and chargers, and this order will further solidify its position in the market.
The growth of the EV market in India is creating a strong demand for EV chargers. The government of India has set a target of 30% electric vehicles by 2030, and this will require a massive expansion of the country’s EV charging infrastructure.
Minda Corp’s order is a sign that the EV charging market in India is maturing. As the demand for EVs grows, more and more companies will enter the EV charging market. This will lead to increased competition and lower prices, which will benefit EV owners.
The order is also a boost for the Indian manufacturing industry. The EV chargers will be manufactured in India, which will create jobs and boost the economy.
Minda Corp’s order is a major milestone in the development of the EV charging market in India. It is a sign that the market is growing and that there is a strong demand for EV chargers. The order will help to boost the Indian manufacturing industry and create jobs.
In addition to the Rs 750 crore order, Minda Corp is also involved in several other EV charging projects. The company is setting up EV charging stations in partnership with several state governments and private companies. Minda Corp is also developing its own EV charging network, which will be called “Minda Charge.”
Minda Corp is well-positioned to be a major player in the EV charging market in India. The company has a strong track record in the automotive component industry and a deep understanding of the EV market. Minda Corp is also investing heavily in R&D, which will help it to develop innovative EV charging solutions.
The growth of the EV market in India is creating a major opportunity for Minda Corp. The company is well-positioned to capitalize on this opportunity and become a leading player in the EV charging market.
Here are some additional details about the order:
- The order is for a mix of AC and DC chargers.
- The chargers will be used for both public and private charging.
- The order is expected to be fulfilled over a period of three years.
- The order is a major boost for Minda Corp’s EV charging business.
- The order is a sign that the EV charging market in India is maturing.
- The order will help to boost the Indian manufacturing industry.
Here are some additional benefits of the order:
- The order will create jobs in the Indian manufacturing industry.
- The order will boost the Indian economy.
- The order will help to reduce India’s dependence on fossil fuels.
- The order will improve air quality in India.
Overall, the order is a major milestone for Minda Corp and the EV charging market in India. The order is a sign that the market is growing and that there is a strong demand for EV chargers. The order will help to boost the Indian manufacturing industry and create jobs.
