Minda Corporation Limited has informed the Exchange about General Updates
MINDACORP · price
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Minda Corporation's wholly owned subsidiary Spark Minda Green Mobility Systems (SMGM) has completed the formation of a new joint venture entity named 'Spark Minda Turntide Private Limited' on April 11, 2026. The JV, originally announced on March 9, 2026, is a 49:51 partnership with UK-based Turntide Drives Limited. The new company will develop and manufacture advanced EV components including motor controllers, axial flux motors, and thermal pumps for India's growing electric vehicle market. Turntide will provide proprietary technology while Minda contributes local manufacturing expertise and market access.
This JV positions Minda Corp to tap into India's rapidly growing EV segment by combining Turntide's global EV technology with Minda's local manufacturing and OEM relationships. The partnership supports 'Make in India' objectives and could boost Minda's revenue from EV-related products in the coming years.