Uno Minda has announced plans to set up a greenfield manufacturing facility dedicated to producing high-voltage powertrain components for electric vehicles (EVs). This initiative aims to bolster the company’s presence in the rapidly expanding EV market.
The proposed plant will focus on manufacturing key components such as Combined Charging Units, E-Axles, Inverters, and Motors, catering to both four-wheeler passenger and commercial EVs. Initially, the project will be executed through Uno Minda’s wholly-owned subsidiary, Uno Minda Auto Innovations Private Limited. Subsequently, subject to regulatory approvals, this entity will transition into a joint venture with Suzhou Inovance Automotive Co. Ltd., with Uno Minda holding a 70% equity stake.
Uno Minda has already secured an order for e-axles from a key anchor customer, underscoring the demand for its upcoming products. The total investment for the project is estimated at approximately ₹423 crore, to be funded through a combination of debt and equity. The capital expenditure will be phased over the next three years, with the first phase expected to be commissioned by the second quarter of fiscal year 2027.
The company is currently evaluating potential locations for the plant, considering factors such as proximity to customers and investment benefits. This strategic move is expected to enhance Uno Minda’s capabilities in the EV sector and solidify its position as a key player in the automotive industry transition to sustainable mobility.
Ravi Mehra, Managing Director of Uno Minda Group, stated, “This investment underscores Uno Minda’s commitment to driving the future of electric mobility in India. By establishing this state-of-the-art facility, we will be well-positioned to meet the growing demand for high-voltage EV powertrain solutions. Our partnership with Inovance Automotive brings together our respective strengths and will enable us to deliver cutting-edge technology to our customers.”
This development aligns with Uno Minda’s broader strategy to expand its footprint in the EV component manufacturing space, building upon its existing collaborations and product offerings to meet the evolving needs of the automotive industry.
