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Minda Corporation Limited and Turntide Technologies have announced a strategic joint venture to develop and manufacture advanced powertrain components for India’s rapidly growing electric vehicle (EV) market. The agreement is subject to regulatory approvals. Under the proposed structure, Minda Corporation will hold a 49 percent stake through a wholly owned special purpose vehicle (SPV), while Turntide Technologies will own the remaining 51 percent.
The joint venture will focus on the development and local production of high- and low-voltage motor controllers, high-performance electric motors, thermal application pumps, and customised controllers tailored for India’s EV segment. According to the companies, the partnership aims to localise Turntide’s global technologies to meet the specific requirements of the Indian market.
India’s electric vehicle sector has witnessed significant growth in recent years, supported by favourable government policies and increasing demand for low-emission transportation solutions. The venture is expected to serve original equipment manufacturers (OEMs) operating in the country while achieving cost competitiveness through domestic manufacturing.
Minda Corporation stated that the initiative will support India’s transition toward sustainable mobility and strengthen the domestic EV supply chain in line with the government’s Make in India initiative.
Established in 1985, Minda Corporation is the flagship company of the Spark Minda Group and one of India’s leading automotive component manufacturers, offering products across mechatronics, information and connected systems, and plastic and interior components. Turntide Technologies specialises in the design and manufacture of electric motors, power electronics, energy storage, and thermal equipment, with operations across North America, the United Kingdom, and India.
