February 17th, 2025
Uno Minda Stakes Rs 195 Crore on EV Technology Leadership
In a strategic move that reshapes India’s EV component landscape, Uno Minda Limited will acquire complete ownership of its electric vehicle joint venture. The Rs 195 crore deal includes FRIWO’s 49.9% stake in UMEV and the German firm’s advanced e-drive technologies.
The acquisition brings critical intellectual property rights and R&D capabilities from FRIWO’s facilities in Germany and Vietnam. This consolidation comes at a time when India’s electric two-wheeler market shows sustained growth momentum.
“This acquisition strengthens our position in the electric vehicle systems market,” says Nirmal K Minda, Chairman and Managing Director of Uno Minda Group. “The integration of FRIWO’s e-drive technologies will enhance our capabilities to serve the rapidly expanding Indian electric two-wheeler segment.”
UMEV has developed significant market presence since its establishment in December 2021. The company’s portfolio spans critical EV components, including on-board chargers, battery management systems, and motor control units. Their substantial order book in the electric two-wheeler segment underscores the market’s confidence in their capabilities.
The deal, set to conclude by early FY26, transforms UMEV into a wholly-owned subsidiary of Uno Minda Limited. This vertical integration strengthens the company’s position in India’s evolving EV ecosystem while opening possibilities for global market expansion.
For India’s auto component sector, this acquisition signals a mature approach to technology acquisition and market leadership. As electric mobility gains momentum, such strategic moves position domestic manufacturers at the forefront of technological innovation.
The integration of FRIWO’s technology and R&D capabilities is expected to accelerate UMEV’s product development cycle and enhance manufacturing capabilities. This positions Uno Minda to meet the growing demands of India’s electric vehicle market while pursuing export opportunities.
