Shares of Uno Minda Ltd were trading in the green and 1% higher on Wednesday, 30 April, when the boards of the firm and its joint venture partner approved the complete project report for the development and production of high-voltage category powertrain products. The project is estimated to cost around Rs 423 crore in total.

This development comes after the business announced on 17 February 2025 that it had entered into a joint venture agreement with Uno Minda Auto Innovations Pvt Ltd, Suzhou Innovance Automotive Co Ltd, and Innovance Automotive (HK) Investment Co Ltd.

The collaboration seeks to produce high-voltage powertrain solutions for electric four-wheeler passenger vehicles (4W PVs) and commercial vehicles (CVs), including combined charging units, e-axles, inverters, motors, and so on.

Additionally, it stated that Innovance Automotive will invest 30% of the equity shares in Uno Minda’s already-incorporated and operating wholly-owned subsidiary company, Uno Minda Auto Innovations Pvt Ltd, through its wholly-owned subsidiary, Innovance Automotive (HK) Investment Co Ltd. After this, the company will be considered a joint venture.

On Wednesday, 30 April, the Uno Minda board approved an investment of Rs 114 crore in the equity capital of the JV business, representing 70% of the equity interest. The specified amount will be invested over the next three years.

According to an exchange filing, Uno Minda will initially contribute 100% of the JV business’s equity capital until Innovance Automotive (HK) Investment Co Ltd receives the PN3 and other necessary regulatory permission. After that, the JV partner will purchase 30% ownership of the JV company.

At 2:10 pm, the shares of Uno Minda were trading 0.69% higher at Rs 900.80 on NSE. 

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