Minda Corporation bags Rs 750 cr order for EV battery chargers
New Delhi, India – Minda Corporation Ltd announced on Tuesday that it has received a Rs 750-crore contract from a leading automobile manufacturer to produce battery chargers for electric vehicles.
Minda Corporation stated in a regulatory filing that the product will be manufactured at the Pune facility of wholly-owned subsidiary Spark Minda Green Mobility Systems.
The company, however, did not reveal the name of the automobile manufacturer from which it received the order.
“The lifetime value of the order is Rs 750 crore,” it added.
Minda Corporation Executive Director Aakash Minda said the order is “a testament to Spark Minda’s robust EV product portfolio and our focus on customer centricity”.
“This milestone underscores our commitment to promoting sustainable mobility and our ability to adapt to the evolving demands of the global automotive industry,” he added.
According to the company, electric vehicles accounted for nearly 20% of total orders won in the previous fiscal year, and this project will further solidify Spark Minda’s commitment to green and connected mobility.
About Minda Corporation Limited
Minda Corporation Limited is a diversified automotive components manufacturer with a product portfolio that encompasses safety, security, and restraint systems; plastic interior systems, and driver information and telematics systems for auto OEMs across the globe.
It is the flagship company of Spark Minda, Ashok Minda Group, which was part of the erstwhile Minda Group. It has manufacturing facilities in India, South-East Asia and Europe.
Minda Corporation Limited was incorporated in 1985 under the name Minda Switch Auto Private Limited for the manufacture of ignition switches for the Indian automotive industry. It has eight directors: Rakesh Chopra, Ashok Minda, and others. Its registered office is at A-15, Ashok Vihar, Phase 1, Delhi
Earlier, a wiring harness plant was in Chakan, Pune. The company has inaugurated a state-of-the-art wiring harness plant in Chakan, Pune, which is its 28th plant in India.
The plant will cater to the wiring harness requirements of two-wheeler and four-wheeler OEMs in the region. The plant is equipped with advanced technologies and processes to ensure high quality and efficiency.