Uno Minda Limited has announced its decision to acquire the remaining 49.9% stake in its joint venture, Uno Minda EV Systems Pvt Ltd (UMEV), from its German partner FRIWO Geratebau GmbH. With this acquisition, Uno Minda will secure full ownership of UMEV and take over the associated e-drive technologies, including intellectual property rights, R&D expertise, and critical hardware and software assets from FRIWO’s facilities in Germany and Vietnam.
The transaction is expected to be completed by the end of the first quarter of FY26. This acquisition marks a strategic move for Uno Minda as it seeks to strengthen its capabilities in the rapidly expanding electric vehicle (EV) market in India, particularly in the two- and three-wheeler segments.
UMEV, established in December 2021 as a joint venture between Uno Minda and FRIWO, has quickly become a significant player in the EV component sector. The company specialises in innovative electric powertrain solutions, including on-board and off-board chargers, battery management systems, motor control units, and vehicle control units. With a robust order book and a growing reputation for cutting-edge technologies, UMEV is well-positioned to capitalise on the booming e-mobility market.
India's EV market, especially in the two-wheeler segment, is expected to grow exponentially over the next five years, presenting significant opportunities for manufacturers. By acquiring FRIWO's e-drive technologies, Uno Minda aims to enhance its product portfolio and leverage the growing demand for advanced EV components. The acquisition also opens the door to potential export opportunities, allowing Uno Minda to explore markets beyond India.
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