When Uno Minda Approves Rs. 423 Cr EV Project, it’s not just another investment; it’s a bold statement about India’s evolving EV ambitions. The project promises to revolutionize four-wheeler electric mobility with cutting-edge powertrain technology. But what inspired this strategic leap, and what does it mean for the nation’s self-reliant EV future? Get ready to uncover how Uno Minda’s vision could transform India’s electric journey forever.
Joint Venture with Suzhou Inovance Automotive
The project will be executed through Uno Minda Auto Innovations Pvt. Ltd., a wholly-owned subsidiary of Uno Minda. Following the necessary regulatory approvals, this entity will evolve into a joint venture with Suzhou Inovance Automotive Co., Ltd., a leading Chinese automotive component manufacturer. Uno Minda will retain a 70% stake in the joint venture, while Inovance Automotive (HK) Investment will hold the remaining share.
Focus on High-Voltage EV Components
The upcoming manufacturing facility will focus on producing critical high-voltage components essential for electric four-wheelers. These include:
- Combined Charging Units (CCUs) – for efficient onboard charging capabilities
- E-Axles – integrating motor, power electronics, and transmission for compact EV design
- Inverters – to convert DC energy from batteries into AC power for motors
- Motors – a core component driving EV propulsion
By manufacturing these components domestically, Uno Minda aims to strengthen India’s EV supply chain resilience and reduce dependence on imported parts.
Investment Structure and Production Plans
The total investment for the project is pegged at ₹423 crore, financed through a mix of debt and equity. Uno Minda’s investment, corresponding to its 70% equity stake, is expected to be around ₹114 crore over three years.
Commercial production is projected to begin in the second quarter of FY 2026–27, with an initial manufacturing capacity of 203,043 units per year. The company aims to achieve full operational capacity within three years of production commencement.
The location of the plant is currently under evaluation, with Uno Minda considering sites based on proximity to key automotive OEM customers and potential state-level investment incentives.
Strategic Significance
This venture marks Uno Minda’s strategic entry into the high-voltage EV powertrain segment, a domain where it currently has no production capabilities. The project not only expands Uno Minda’s product portfolio but also aligns with India’s push for self-reliance (Aatmanirbhar Bharat) in advanced automotive manufacturing.
By localizing high-value EV components, Uno Minda will contribute to reducing import dependency and enhancing the competitiveness of Indian EV manufacturers.
Strengthening Uno Minda’s EV Portfolio
The new four-wheeler EV project builds on Uno Minda’s existing investments in two- and three-wheeler EV components. The company recently consolidated its position in the segment by acquiring 100% ownership of UMEV, its EV systems venture. UMEV currently manufactures key parts such as on-board chargers, battery management systems, and motor controllers, catering to multiple domestic EV brands.
With this new project, Uno Minda is poised to emerge as a comprehensive EV component solutions provider, serving the entire electric mobility spectrum — from two-wheelers to commercial vehicles.
Conclusion
Uno Minda’s ₹423 crore investment marks a transformative leap in India’s EV manufacturing landscape. By partnering with global players like Inovance and focusing on high-tech powertrain solutions, the company is setting the stage for a new era of innovation, localization, and sustainable mobility.
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