UnoMinda EV Systems Private Limited
UnoMinda EV Systems Private Limited is a joint venture between Uno Minda Ltd and FRIWO AG Germany, a leading international manufacturer of innovative power supply units and e-drive solutions, to combine their manufacturing prowess and technical expertise to manufacture and supply various electric vehicle components in Indian subcontinent. Uno Minda Ltd holds a majority stake of 50.1% in the joint venture entity.
The Joint Venture combines manufacturing & technology expertise of Uno Minda and FRIWO`s long term experience in providing sophisticated e-mobility solutions to manufacture and market e-drive solutions for electrical two-and three wheelers in India. As a result, the combined entity is now able to offer full line e-drive solutions for the Indian market, combining extremely robust hardware and an outstanding software architecture.
The joint venture helped the company to further strengthen EV product portfolio and accelerate development and manufacturing of various EV components in India to fulfil increasing client requirements and to offer high-quality customized e-solutions in record speed.
UnoMinda EV is also setting up greenfield plant at Farrukhnagar Haryana. The joint venture plans to incur capex of ~ Rs 390 Crore over a period of next 6 years to support such growth in India, the outlay in initial two years would be around Rs 160 Crore. The plant will be commissioning in phases with first phase expected to commission in Q3 FY24.