# 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.

- Type: Acquisition
- Announced: 2021-12-10
- Where: India
- Value: $9.50M (710.0M INR)
- Status: announced
- Products: EV products
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Minda Industries](https://endata.com/companies/23875.md)
- [Friwo](https://endata.com/companies/19399.md) (partner)

## Sources

- [business-standard.com](https://www.business-standard.com/article/news-cm/board-of-minda-industries-approves-formation-of-jv-with-friwo-ag-germany-121121001138_1.html), 2021-12-10: "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"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.