Uno Minda To Acquire Remaining 49.9% Stake In JV With Friwo

A global tier-1 supplier of proprietary automotive systems and solutions to original equipment manufacturers (“OEMs”), Uno Minda's board has approved to increase stake in UnoMinda EV Systems (“UMEV”) from 50.10 per cent to 100 per cent by acquiring additional equity stake from its joint venture partner Friwo Geratebau GmbH (“Friwo”). Along with additional stake, Uno Minda through its subsidiaries will also acquire the Intellectual Property Rights, the know-how and R&D Team relating to the e-Drives Business technologies including the required control hardware and service software, from Friwo's locations in Germany and Vietnam.

The e-drive technologies comprise of electric powertrain solutions for application in electric automotive two and three-wheeler vehicles. The purchase consideration for additional 49.9 per cent stake in UMEV the shares, e-drive technologies and assets as mentioned above is approximately Rs 195 crore. The transaction is expected to be consummated by end of Q1FY26.

Recognising the burgeoning electric vehicle market early on, Uno Minda established UMEV in December 2021 as a joint venture with Friwo. UMEV has rapidly emerged as a leading manufacturer of cutting-edge EV components, offering best-in-class and innovative solutions such as on-board chargers, off-board chargers, battery management systems, motor control units, and vehicle control units. UMEV has built a strong order book, positioning it for significant growth in the coming years.

India is witnessing a surge in the adoption of electric two-wheelers, with a projected exponential growth in the next five years. This presents a significant opportunity for Uno Minda to capitalise on the expanding e-mobility market. With the acquisition of e-Drive technologies, Uno Minda will strengthen its capabilities and explore new avenues for growth, including potential export opportunities beyond the Indian market.

Nirmal K Minda, CMD, Uno Minda Group, said, “We see immense growth potential in the Indian electric vehicle market, particularly in the two-wheeler segment, and this acquisition will enable us to capitalise on this opportunity and explore new avenues for growth.”