Uno Minda Ltd, a manufacturer and supplier of proprietary automotive solutions and systems, has recently commissioned a new EV systems plant in Farukhnagar, Haryana under the joint venture with FRIWO AG Germany, the company announced through an exchange filing.
This new plant would manufacture On-Board Charger, Off-board charger, Motor Control Unit, DCDC converter, Battery Management System, and many more products catering to EV 2 wheeler and 3 wheeler. Supplies from this plant have already started and are expected to further ramp up in coming quarters with start of production (SOP) of more orders received.
In August 2023, Uno Minda Ltd commissioned its second new EV systems plant under subsidiary Uno Minda Buehler Motor Private Limited (UMBM) in Bawal, Haryana. The plant will manufacture traction motors/BLDC motors for EV 2-wheeler and 3-wheeler. UMBM has already received orders from OEMs and is expected to start supplies by Q3 FY24.
The company has also received new orders with annualised peak value of more than ₹600 crores for EV systems during the Ql FY24. The aggregate order book now stands at more than ₹2500 crores annualised peak value from EV OEMs comprising both existing and EV specific products. The company is targeting to achieve 1500 crores in revenue from EV systems by FY26.
Started out 4-5 years back, Uno Minda was one of the few early entrants in EV systems manufacturing and is now the market leader in EV system manufacturing as well. The company has built an unrivalled and unparalleled portfolio of more than 10+ EV components, most of which are under production and are being supplied to leading EV 2 wheeler OEMs.