This development follows the company’s earlier announcement on February 17, 2025, when it informed stock exchanges about entering into a JV agreement with Uno Minda Auto Innovations Pvt Ltd, Suzhou Innovance Automotive Co Ltd, and Innovance Automotive (HK) Investment Co Ltd.
The collaboration aims to manufacture high-voltage powertrain solutions for electric four-wheeler passenger vehicles (4W PVs) and commercial vehicles (CVs) such as combined charging units, e-axle, inverter, motors, etc.
It also said that Innovance Automotive, via its wholly-owned subsidiary Innovance Automotive (HK) Investment Co Ltd, will make an investment in 30% equity shares in Uno Minda’s already-incorporated and existing wholly-owned subsidiary firm Uno Minda Auto Innovations Pvt Ltd, following which it will be treated as a joint venture company.
The Uno Minda board, on Wednesday, April 30, approved the overall investment of ₹114 crore in the equity capital of the JV company, which is equivalent to 70% of the equity stake in it. The said amount will be invested over the next three years.
Uno Minda will initially invest 100% in the equity capital of the JV company till Innovance Automotive (HK) Investment Co Ltd obtains the PN3 and other required approval from regulators, following which the JV partner will acquire 30% stake in the JV company, the firm said in an exchange filing.
Uno Minda shares were trading 0.22% lower at ₹892.6 apiece at 12.05 pm on Wednesday, April 30. The stock has declined 15.7% this year, so far.
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