February 18th, 2025
Uno Minda Strengthens EV Portfolio Through Strategic Partnership with Inovance Automotive
Uno Minda Limited has formed a strategic joint venture with China’s Suzhou Inovance Automotive to manufacture high-voltage electric vehicle components in India. The partnership aims to boost local EV component manufacturing capabilities while leveraging international technical expertise.
Through this alliance, Inovance Automotive will take a 30% stake in Uno Minda Auto Innovations Private Limited. The joint venture will develop and produce critical EV components for four-wheeler passenger and commercial vehicles.
The product portfolio spans essential EV technologies:
- Combined charging units
- E-axle systems
- Advanced inverters
- High-performance motors
This move builds on the technical license agreement established between the two companies in June 2024. India will serve as the exclusive manufacturing and distribution territory, with products marketed under both Uno Minda and Inovance brands.
The joint venture’s governance structure reflects its strategic importance. Uno Minda will appoint five directors, including one independent director, while Inovance will nominate three. A Uno Minda nominee will chair the board, ensuring strong local leadership.
This partnership combines Inovance Automotive’s technical prowess in EV powertrain systems with Uno Minda’s manufacturing strength. The collaboration positions both companies to capture opportunities in India’s expanding electric vehicle market.
The joint venture represents a significant step in localizing advanced EV component manufacturing. By bringing together international technology and local manufacturing expertise, it aims to strengthen India’s position in the global EV supply chain.
