Uno Minda to Invest INR 423 Cr in Greenfield Plant for Four-Wheeler EV Powertrain Products
Uno Minda will invest INR 423 crore to set up a greenfield plant for high-voltage EV powertrain products, to be developed via its subsidiary and later converted into a joint venture with Suzhou Inovance Automotive. Phase 1 is set to launch by Q2 FY27.
May 01, 2025. By Mrinmoy Dey
The project will initially be executed through Uno Minda's wholly-owned subsidiary, Uno Minda Auto Innovation. Subsequently, subject to necessary regulatory approvals, this entity will be converted into a joint venture company with Suzhou Inovance Automotive.
Upon conversion, Uno Minda will eventually hold a 70 percent equity stake in the joint venture. The company is evaluating the location for the plant basis the proximity to the customer and other investment benefits.
Uno Minda has already secured e-axle order from a key anchor customer. The total project cost is estimated at approximately INR 423 Crore, which will be funded through a combination of debt and equity. Capital expenditure will be phased over the next three years, with Phase 1 expected to be commissioned by Q2 FY27.
Ravi Mehra, Managing Director, Uno Minda Group said, “This investment underscores Uno Minda's commitment to driving the future of electric mobility in India. By establishing this state-of-the-art facility, we will be well-positioned to meet the growing demand for highvoltage EV powertrain solutions. Our partnership with lnovance Automotive brings together our respective strengths and will enable us to deliver cutting-edge technology to our customers.”
The establishment of this new plant will significantly enhance Uno Minda's capabilities in the rapidly expanding electric vehicle market, further solidifying its position as a key player in the automotive industry's transition to sustainable mobility.
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