Minda Industries Ltd (MIL) has entered a joint venture with FRIWO AG Germany to manufacture and supply electric vehicle components in India. MIL will hold a 50.1% stake, with a planned capex of Rs 390 crore over six years.
FRIWO AG and UNO MINDA Group have entered a joint venture to develop and market e-drive solutions for electric two- and three-wheelers in India. FRIWO will hold a 49.9% stake, and UNO MINDA plans a €15 million investment in FRIWO.
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.
Friwo, a manufacturer of power supplies and chargers, acquired all shares of Emerge-Engineering GmbH, a developer and...