Uno Minda signs Joint Venture with Suzhou INOVANCE Automotive • EVreporter

On February 17, 2025, Uno Minda Limited signed a Joint Venture Agreement (JVA) with Suzhou INOVANCE Automotive Co., Ltd. for the manufacture and sale of high-voltage electric vehicle (EV) products in India. The joint venture will focus on catering to both passenger and commercial vehicles in the country’s rapidly expanding EV market.

Under the terms of the agreement, Uno Minda will hold a majority stake of 70%, with Inovance Automotive as the partner. This collaboration follows an earlier Technical License Agreement signed in June 2024, which allowed Uno Minda to manufacture key EV powertrain components, including Charging Control Systems (CCS), EV inverters, EV motors, and next-generation electric drive systems (e-Axle).

With this partnership, Uno Minda plans to expand its presence in the EV market by working with Inovance Automotive on electric vehicle technology. The collaboration will focus on the production of EV-related components for the Indian automotive sector.

Also read: Uno Minda to acquire 49.9% remaining stake in UMEV for INR 195 crores