Suzhou Inovance Automotive

Uno Minda announced plans to set up a greenfield manufacturing plant for high-voltage EV powertrain products through a joint venture with Suzhou Inovance Automotive, with a total project cost of ₹423 crore. Phase 1 is expected to be operational by Q2 FY27.

Uno Minda announced a joint venture with Suzhou Inovance Automotive to invest Rs 423 crore in developing and manufacturing high-voltage components for electric light commercial vehicles in India.

Uno Minda approved the acquisition of the remaining 49.9% stake in joint venture UnoMinda EV Systems from FRIWO Geratebau GmbH for Rs 195 crore, along with IP and R&D assets for e-drive technologies.

Shenzhen Inovance Technology is investing CNY 5 billion (USD 701.3 million) to build a factory for NEV electric controlling systems, power systems and general assembly parts in Suzhou, Jiangsu province. The facility will be built in stages over five years.

American Axle & Manufacturing (AAM) and Suzhou Inovance Automotive have signed a technology development agreement to accelerate the development and delivery of scalable, next-generation 3-in-1 electric drive systems for the global NEV market.