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Uno Minda Partners with Inovance Automotive for EV Powertrain Development

Synopsis:

Uno Minda has signed a joint venture with Inovance Automotive for high-voltage EV powertrain products. The partnership involves a 30% stake transfer. Uno Minda share price closed at ₹898.85, down 0.79%, as the market reacts to the deal’s implications.


Auto components maker Uno Minda has entered into a joint venture with Suzhou Inovance Automotive and its subsidiary, Inovance Automotive (HK) Investment, to develop and manufacture high-voltage EV powertrain products. Under the agreement, Inovance Automotive (HK) Investment will acquire a 30% equity stake in Uno Minda Auto Innovations Private, which was previously a fully owned subsidiary of Uno Minda. Following the transaction, the entity will function as a joint venture, with Uno Minda retaining a 70% stake. The collaboration will focus on producing key EV powertrain components such as combined charging units, E-axles, inverters, and motors.

Also read: Bharti Airtel to Execute ₹8,000 Crore Block Deal on February 18, 2025

UNO MINDA LIMITED

Trade

895.55-8.70 (-0.96 %)

Updated - 24 April 2025
914.00day high
DAY HIGH
890.00day low
DAY LOW
383546
VOLUME (BSE)

Key Takeaways

  • Uno Minda has partnered with Inovance Automotive to expand its EV powertrain portfolio.

  • Inovance Automotive (HK) Investment will acquire a 30% stake in Uno Minda Auto Innovations.

  • The joint venture will develop high-voltage EV powertrain components for passenger and commercial vehicles.

  • Products will be distributed under the Uno Minda and Inovance Automotive trademarks.

  • The board will have eight members, with Uno Minda appointing five and Inovance Automotive appointing three.

  • Uno Minda share price ended at ₹898.85, down 0.79% following the announcement.

Also read: Zomato Unveils AI-Powered Nugget, a No-Code Customer Support Platform

Focus on High-Voltage EV Powertrain Products

The joint venture will operate in India, focusing on manufacturing advanced EV powertrain solutions. The board structure will include governance controls such as board representation rights, restrictions on share transfers, and capital structure clauses. The agreement follows a technical licence partnership between Uno Minda and Inovance Automotive in June 2024. The collaboration aims to integrate Inovance’s technological expertise with Uno Minda’s manufacturing capabilities, strengthening the company’s position in the EV component sector.

Uno Minda Joint Venture Details

Category

Details

Partners

Uno Minda and Inovance Automotive

Stake Distribution

Uno Minda - 70%, Inovance Automotive - 30%

Product Focus

EV powertrain components

Key Products

E-axles, inverters, motors, combined chargers

Board Members

8 (5 from Uno Minda, 3 from Inovance)

Market Region

India

Uno Minda Share Price and Market Reaction

The announcement of the joint venture had a minor impact on Uno Minda share price. Shares of Uno Minda ended at ₹898.85 on the BSE, reflecting a 0.79% decline. Investors are closely monitoring the long-term potential of the partnership, as the company expands its footprint in the growing EV sector. The venture is expected to enhance Uno Minda’s capabilities in producing high-voltage powertrain solutions, catering to the increasing demand for electric vehicles.

Uno Minda’s partnership with Inovance Automotive marks a significant step in expanding its EV powertrain portfolio. With a focus on high-voltage components, the joint venture aims to leverage advanced technology and manufacturing expertise to support the growing demand for electric mobility. The performance of Uno Minda share price in the coming months will indicate market confidence in this strategic collaboration.

Also read: NTPC to Invest $62 Billion for 30 GW Nuclear Power Expansion in India

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