• Login
AutoEVTimes
  • Home
  • News
    • India EV News
    • International EV News
    • Latest EVs India
    • Latest EVs International
    • Policy
  • EV Tech
    • Autonomous Driving
    • Battery Technology
    • Charging Station
    • Drive Systems
  • EV Products
    • ADAS
    • Automotive Lighting
    • Automotive Motors
  • Editor’s Desk
    • Research
    • Interview
    • Articles
    • Startup
    • Events
No Result
View All Result
HealthNews
No Result
View All Result
Home News India EV News

UNO Minda’s Strategic Partnership Ignites 18% Stock Surge

AutoEV Times by AutoEV Times
September 16, 2024
in India EV News, News
0
UNO Minda's 18% Stock
1
SHARES
19
VIEWS
Share on FacebookShare on Twitter

A technical license agreement has been reached between Uno Minda Limited (previously known as Minda Industries Limited), an automotive component manufacturer, and Suzhou Inovance Automotive Company, China, for the production and sale of high voltage category automotive parts for both passenger and commercial vehicles in India.

After the declaration of a technology license agreement (TLA) with China’s Suzhou. At a fresh 52-week high of Rs 1,018.75 per share, Uno Minda’s shares saw a jump of up to 18.09 percent.

The next-generation 3-in-1 electric drive systems (e-Axle), EV motors, charging control units (CCU), and EV inverters are among the products for electric vehicles. Through this collaboration, Uno Minda’s e-4W product line is greatly increased, successfully serving the expanding Indian EV market.

Having been established in 2003, Inovance is a multinational supplier of goods and services for the general industry, intelligent elevators, rail transportation, and new-energy vehicles (NEVs), generating more than USD 4.2 billion in sales in FY23.

A division of Inovance, Suzhou Inovance Automotive Co., Ltd. operates in Germany, France, the United Kingdom, Switzerland, Norway, Hungary, India, Japan, Thailand, and China, among other nations. Major Chinese and international PV and CV OEMs are supplied with intelligent systems and components by Inovance Automotive for both hybrid and electric vehicles.

India’s market for electric vehicles (EVs) for passenger cars is expanding quickly; in FY24, sales almost doubled despite the scarcity of available models. With the introduction of new cars and the advent of international OEMs, this tendency should pick up speed.

The Minda Group’s CMD, Nirmal K. Minda, declares that the company is committed to spearheading the shift to electric vehicles in all vehicle classes. He also talks about how well they are doing in e-2W and how they are assembling a solid portfolio for e-4W. By working together, they hope to expand their four-wheel drive electric vehicle (EV) product line and hasten India’s transition to an electrified and sustainable future.

Inovance Automotive’s CEO, Li Juntian, explains the company’s dedication to providing the industry with excellent solutions for New Energy Vehicles. He emphasizes their goal of becoming more established in the rapidly growing Indian EV sector and creating cutting-edge integrated electric drive units for the upcoming generation of hybrid and electric cars.

The consolidated net profit of UNO Minda, a multinational manufacturer and Tier-1 supplier of unique automotive systems and solutions to OEMs, increased by 58.3% to Rs 289.11 crore in Q4 FY24 from Rs 182.65 crore in Q4 FY23.

In Q4 of FY24, revenue from operations increased by 31.3% YoY to Rs 3,794.02 crore. On Wednesday, June 5, 2024, at 862.65, the counter climbs 22.2%.

Tags: AutoEV Timeselectric vehicle newselectric vehiclesEV BusinessEV newsev timesMobilityPartnershipUNO Minda'sUNO Minda's 18% Stock
Previous Post

SIAM Advocates Sustainable Mobility at “Viksit Bharat” Conference

Next Post

SUN Mobility Teams Up with IndianOil for Innovative Energy Solutions

AutoEV Times

AutoEV Times

Next Post
SUN Mobility With IndianOil

SUN Mobility Teams Up with IndianOil for Innovative Energy Solutions

Recommended Stories

EV Adoption in India

Godawari Motors, Shriram Finance Boost EV Adoption in India

February 14, 2025
Hero MotoCorp

Hero MotoCorp and ASDC Launch Phase 2 of ‘Project Saksham’

May 6, 2025
Quantum Energy

Quantum Energy Inaugurates its 2nd EV Showroom in Udaipur

July 28, 2023

Popular Stories

  • Patanjali EV

    Patanjali Enters EV Market with Affordable Electric Scooter

    0 shares
    Share 0 Tweet 0
  • Ola Launches S1 X Scooters with 190km Range, Warranty

    0 shares
    Share 0 Tweet 0
  • Maruti Suzuki Unveils Alto Electric at ₹4 Lakh, Promises 560km Range

    0 shares
    Share 0 Tweet 0
  • The Electric Version of the Thar SUV, the Mahindra Thar.e Vision, was Unveiled in Cape Town

    0 shares
    Share 0 Tweet 0
  • Vaisala Leverages Weather Data to Enhance Electric Vehicle Range

    0 shares
    Share 0 Tweet 0
AutoEVTimes

AutoEV Times provides the latest Electric Vehicles News, EV Business, EV Products etc from around the world.

Recent Posts

  • Elektros Inc. Uncovers Major Lithium Find in Sierra Leone
  • Rajiv Bajaj Criticizes India’s EV Strategy, Advocates for CNG Alternatives
  • Honda Launches First Electric Motorcycle, E-VO, in China

Categories

  • ADAS
  • Articles
  • Automotive Electronics
  • Automotive Lighting
  • Automotive Motors
  • Autonomous Driving
  • Battery Technology
  • Charging Station
  • Drive Systems
  • EV Products
  • EV Tech
  • India EV News
  • International EV News
  • Interview
  • Latest EVs India
  • Latest EVs International
  • News
  • Policy
  • Research
  • Road Safety
  • Startup
  • Uncategorized
  • Contact Us
  • Events
  • Front
  • Guest Post Guidelines
  • Home
  • Privacy Policy
  • Sample Page
  • Terms of Service

© 2016 - 2024 AutoEV Times | All Rights Reserved.

No Result
View All Result
  • Contact Us
  • Events
  • Front
  • Guest Post Guidelines
  • Home
  • Privacy Policy
  • Sample Page
  • Terms of Service

© 2016 - 2024 AutoEV Times | All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In