Minda Corp Subsidiary Forms EV Components JV With UK’s Turntide Drives

Minda Corp. Ltd. ( (IN:MINDACORP) ) has issued an update.

Minda Corporation’s subsidiary Spark Minda Green Mobility Systems has entered into a joint venture agreement with U.K.-based Turntide Drives to develop and manufacture next-generation motor controllers, axial flux motors, thermal pumps, and customized controllers for India’s expanding electric vehicle segment. The new Indian joint venture will be majority-owned by Turntide with a 51% stake and 49% held by Spark Minda, combining Turntide’s proprietary technology with Minda’s local presence to strengthen the group’s position in EV components and deepen its role in India’s green mobility ecosystem.

Key terms include a three-year lock-in on share transfers for both partners and a five-member board with three directors nominated by Turntide and two by Spark Minda. By anchoring advanced drivetrain and thermal management technology locally, the alliance is expected to enhance Minda’s competitiveness in EV systems, support import substitution, and position the company to capture rising demand from domestic and global OEMs operating in India.

More about Minda Corp. Ltd.

Minda Corporation Limited, through its wholly owned subsidiary Spark Minda Green Mobility Systems, operates in the automotive components sector with a growing focus on electric vehicle technologies. The company is expanding into advanced motor controllers, axial flux motors, and thermal management pumps, targeting India’s rapidly developing EV market and related mobility applications.

Average Trading Volume: 30,498

Technical Sentiment Signal: Buy

Current Market Cap: 124.4B INR

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