Minda Corporation Secures Rs 750 cr Order For EV Battery Chargers By CIOTechOutlook Team

Minda Corporation Secures Rs 750 cr Order For EV Battery Chargers

CIOTechOutlook Team | Tuesday, 11 July 2023, 06:09 IST

The manufacturer of car parts Minda Corporation Ltd announced that a top automaker has awarded it a Rs 750 crore contract to make battery chargers for electric vehicles. According to a regulatory filing by Minda Corporation, the product would be produced at the Pune site of Spark Minda Green Mobility Systems, a wholly-owned subsidiary. The company did not, however, reveal the name of the automaker 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". He further said, "This milestone underlines our commitment towards promoting sustainable mobility and our ability to adapt to the evolving demands of the global automotive industry."

According to the business, approximately 20% of all orders secured during the previous fiscal year were for electric vehicles, and this project will further demonstrate Spark Minda's commitment to sustainable and interconnected mobility.

Spark Minda, formerly known as the MINDA Group, has been a significant player in the global automobile industry for more than 60 years and is one of the top suppliers of OEM automotive components. With operations in Indonesia, Vietnam, Uzbekistan, the United States of America, and Japan, the US $445 million Group employs more than 16,000 people and serves India's top Tier 1 manufacturers of motorcycles, scooters, off-road vehicles, and passenger cars. Through a robust dealer distributorship of over 450 dealers, we also serve the after market area in India.