Uno Minda to Set Up ₹423 Cr Plant for 4-Wheeler EV Components

Auto components major Uno Minda said its board has approved the setting up of a greenfield manufacturing plant for high-voltage powertrain products, catering to the four-wheeler passenger and commercial electric vehicle segments.

The facility will be operated initially by Uno Minda Auto Innovations Private Limited, a wholly-owned subsidiary. It will produce Combined Charging Units, E-Axles, Inverters, and Motors, the company said in a statement on Wednesday.

Subject to regulatory clearances, the subsidiary will later be converted into a joint venture with Suzhou Inovance Automotive Co. Ltd., with Uno Minda retaining a 70% equity stake in the entity.

Uno Minda is currently evaluating potential locations for the plant based on customer proximity and investment-related benefits.

The company has already secured an e-axle order from a key anchor customer, it added.

The project entails a total investment of approximately Rs 423 crore, to be funded through a mix of debt and equity. Capital expenditure will be phased over three years, with Phase 1 expected to be commissioned by the second quarter of FY27.

“This investment underscores Uno Minda’s commitment to driving the future of electric mobility in India,” said Ravi Mehra, Managing Director, Uno Minda Group. “Our partnership with Inovance Automotive will bring together complementary strengths to deliver high-quality, advanced technology solutions for electric vehicles.”

The new facility is expected to strengthen Uno Minda’s position in the rapidly growing EV market and support the automotive sector’s transition to sustainable mobility.