Uno Minda Board approves around USD50 million for EV Powertrain Project
By RACE Innovations Pvt Ltd - 30th June 2025
Una Minda's HQ in Gurugram
India / China – Uno Minda Ltd1 (formerly Minda Industries Ltd), a leading Tier 1 OEM supplier of electronic components based in Gurugram, has approved a Detailed Project Report (DPR) for a four-wheel electric vehicle (4W-EV) powertrain project, involving a total investment of approximately USD 50 million (INR423 crores).
The project will focus on the development and manufacturing of high-voltage EV components, including combined charging units, e-axles, inverters, and electric motors. This approval follows Uno Minda's earlier disclosure on February 17, 2025, regarding a joint venture (JV) agreement between Uno Minda Auto Innovations Pvt. Ltd. (a wholly owned subsidiary of Uno Minda), and Chinese firms, Suzhou Inovance Automotive Co. Ltd., and Inovance Automotive (HK) Investment Co. Ltd.
