One of the Largest Indian Manufacturer ties up with Chinese to dominate the EV Components Market

Key Highlights:

• Uno Minda partners with Suzhou Inovance to expand into the electric four-wheeler market.
• The agreement includes manufacturing high-voltage powertrain components for electric vehicles.
• Uno Minda plans to transition the partnership into a joint venture, subject to approvals.

Uno Minda, one of the largest automobile component manufacturers and suppliers in India, has joined forces with China-based Suzhou Inovance Automotive Co. for the production of Electric Vehicle components.

“In an attempt to expand its reach and products in the passenger and commercial electric vehicle, the Indian giant landed a technical license agreement with Suzhou for the sale and manufacturing of some high-voltage powertrain components for electric vehicles,” said Uno Minda in the statement.

They added, “The products that would be produced under the said contract include charging control unit, inverter, e-axles, motors, and electric drive systems.” Adding to the statement, “the company aims to strengthen the partnership by transitioning into a joint venture, subject to necessary approvals.”

Uno Minda Group CMD Nirmal Minda stated, "Similar to our success in the electric-two-wheeler segment, we are building a strong portfolio for the electric four-wheeler vertical."

Uno Minda is currently the leading manufacturer and supplier of the electric-two-wheeler segment, and with this partnership, they aim to replicate the same success in the electric-four-wheeler segment.

Also Read:: EV Subsidy Guide: State-wise Benefits and Tax Discounts in India