Uno Minda has approved a detailed plan for developing and making high-voltage parts for electric vehicle (EV) powertrains. This is an important step in India's EV industry. The total cost for this project is estimated to be Rs 423 crore.

This effort comes from an agreement made earlier, in February 2025. Uno Minda formed a joint venture with Uno Minda Auto Innovations, Suzhou Innovance Automotive, and Innovance Automotive (HK) Investment. The main goal of this partnership is to create advanced powertrain parts like e-axles, inverters, motors, and combined charging units for electric cars and commercial vehicles.

In the plan that was just approved, Uno Minda will invest Rs 114 crore over the next three years. This will give them 70 percent ownership in the joint venture company. This money will be invested in Uno Minda Auto Innovations, which is currently fully owned by Uno Minda. Once the necessary approvals from the government are received, Innovance Automotive, through its fully owned company Innovance Automotive (HK) Investment, will buy a 30 percent share. This will change the subsidiary into a joint venture.

Uno Minda will own 100 percent of the company at first. This will be until Innovance gets approvals under the Press Note 3 (PN3) rules and other required permissions. After approvals are received, the ownership will be 70 percent for Uno Minda and 30 percent for Innovance