Completion of acquisition of IP Rights and E-drive Business assets in Germany through UnoMinda EV Systems Pvt. Ltd., Wholly Owned Subsidiary of the Company
Awaiting price reaction for this filing.
Uno Minda Limited, through its wholly owned subsidiary UnoMinda EV Systems Private Limited, has completed the acquisition of e-drive business assets, Intellectual Property Rights, know-how, and R&D team from Friwo Group Entities in Germany. The acquisition includes control hardware and service software related to e-Drive technologies. A related acquisition of e-Drive business assets in Vietnam from Friwo is still in progress and is expected to close on or before July 15, 2025. This follows the company's earlier communications on February 14, 2025 and June 30, 2025 regarding the same transaction.
This strengthens Uno Minda's position in the electric vehicle technology space by adding e-drive capabilities, IP, and an experienced R&D team in Germany. Shareholders may view this positively as it expands the company's EV portfolio, though full benefits will depend on integration and completion of the Vietnam leg.