Minda Industries forms EV joint venture with FRIWO AG

Minda Industries approved a joint venture agreement with FRIWO AG to create a joint venture company in India for EV products. Minda will invest up to Rs. 71 crore for a 50.1% stake, and total capital expenditure over six years will be Rs. 388 crore.

“The Board approved to enter into joint venture agreement with FRIWO AG, Germany and its affiliates and accordingly to make a joint venture company with FRIWO for EV products”business-standard.com

• 1 source
• business-standard.comBoard of Minda Industries approves formation of JV with FRIWO AG, GermanyCapital MarketDec 10, 2021

Summarized from public sources; check the original articles before acting on it.