Minda Corporation Limited has informed the Exchange regarding a press release dated June 11, 2025, titled "Press Release for signing of Joint Venture Agreement by Minda Corporation Limited with Toyodenso Co. Ltd., Japan".
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Minda Corporation has signed a joint venture agreement with Japan's Toyodenso Co. Ltd. on June 11, 2025, to manufacture and sell advanced automotive switches in India. Minda will hold a 60% majority stake while Toyodenso will hold 40%, with a new JV entity to be incorporated for this purpose. A greenfield plant will be set up in Noida, Uttar Pradesh, targeting two-wheelers, passenger cars, and other automotive segments, with operations expected to commence in the second half of FY 2026-27. Notably, the JV has already secured initial customer orders in India. Toyodenso, founded in 1947, brings proprietary technology and technical know-how, while Minda contributes localised manufacturing expertise and supply chain strength.
This is a positive strategic development — a marquee JV with a globally established Japanese auto component supplier (Toyota, Honda, Suzuki supplier) strengthens Minda's product portfolio, opens a new revenue vertical, and signals management's focus on smart mobility and localisation. Existing customer orders and a clear operational timeline reduce execution risk and should be viewed favorably by the market.