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Uno Minda to Invest Rs423 Crore in New EV Powertrain Plant; Forms JV with Suzhou Inovance

Uno Minda Ltd., a leading global automotive technology supplier, has announced plans to set up a new greenfield manufacturing plant for high-voltage powertrain components for electric four-wheelers, including Combined Charging Units, E-Axles, Inverters, and Motors. The facility will serve both passenger and commercial EV segments.

The project will be initiated through Uno Minda’s wholly-owned subsidiary, Uno Minda Auto Innovation, which will later be converted into a joint venture with Suzhou Inovance Automotive, subject to regulatory approvals. Uno Minda will retain a 70% stake in the venture.

The total investment is pegged at Rs423 crore (~$49.7 million) and will be funded through a mix of debt and equity. The capital expenditure will be phased over three years, with Phase 1 expected to be commissioned by Q2 FY27. Uno Minda is currently evaluating plant location options based on proximity to customers and potential investment incentives.

The company has already secured a key order for e-axles, and the new facility is expected to boost Uno Minda’s EV manufacturing capabilities, positioning it as a significant player in India’s electric mobility transition.

Managing Director Ravi Mehra emphasized that this investment strengthens Uno Minda’s commitment to India’s EV future and brings advanced technology through its partnership with Suzhou Inovance.