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Systematix Research Report
Minda Industries Ltd. has cemented its position in the electric vehicle supply chain with a joint venture agreement with FRIWO AG, Germany – a manufacturer of power supply units and e-drive solutions.
Minda Industries (50.1% share in the JV) and FRIWO (49.5%) have complementary product portfolios, offering a spectrum of electronic components in the e-two-wheeler and e-three-wheeler industries.
The JV plans a capex of Rs 4 billion over the next six years (eligible under the production linked incentives scheme); the product basket can supply incremental content worth Rs 47,000 (~40% vehicle cost), including key components like battery packs, battery management system, motor controllers and DC-DC converters.
The partnership has been forged when the EV industry is on the cusp of a growth trajectory facilitated by favourable government policies and incentives.
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