76
/ 1
Min Read
Uno Minda Limited has announced that its Board of Directors has approved a Detailed Project Report (DPR) for a new four-wheeler electric vehicle (4W-EV) project with a total investment of approximately ₹423 crores. The initiative will focus on developing and manufacturing high-voltage EV components such as combined charging units, e-axles, inverters, and motors.
This announcement follows the company’s earlier joint venture agreement with Uno Minda Auto Innovations Pvt. Ltd., Suzhou Inovance Automotive Co. Ltd., and Inovance Automotive (HK) Investment Co. Ltd., disclosed on February 17, 2025. Under the approved plan, Uno Minda will initially hold 100% equity in the joint venture and will later dilute 30% to Inovance Automotive (HK) after regulatory approvals.
Uno Minda will invest around ₹114 crores over the next three years to hold a 70% stake in the joint venture. The manufacturing capacity is targeted at 203,043 units per year, with commercial production expected to begin in Q2 of FY 2026-27 and full capacity to be reached within three years of commencement.
The joint venture will operate under Uno Minda Auto Innovations Pvt. Ltd., a wholly owned subsidiary incorporated in April 2023. The project will be funded through a mix of equity and term loans.
