Uno Minda Limited plans to acquire the remaining 49.9% interest in its joint venture, Uno Minda EV Systems Pvt Ltd (UMEV), from partner FRIWO Gerätebau GmbH. With this step, Uno Minda will gain full ownership of UMEV, a firm founded in December 2021 to manufacture advanced electric vehicle components for two- and three-wheelers.
Valued at around ₹195 crore(INR 1.95 billion), the acquisition encompasses FRIWO’s equity stake as well as the transfer of intellectual property rights, technical expertise, and the R&D team related to e-drive technologies from FRIWO’s facilities in Germany and Vietnam. These e-drive solutions include electric powertrain systems designed for two- and three-wheeled electric vehicles.The deal is expected to wrap up by the end of Q1 in FY 2026.
UMEV has rapidly established itself as a significant player in the electric vehicle industry, providing various components including on-board and off-board chargers, battery management systems, motor control units, and vehicle control units. With a solid order book in place, the company shows promising growth prospects in the near future.
The Indian market for electric two-wheelers is poised for considerable growth, with forecasts suggesting a major increase in the next five years. Uno Minda seeks to bolster its presence in this emerging market and investigate potential export opportunities beyond India by fully incorporating e-drive technologies and related intellectual property.
About Uno Minda
Uno Minda is a prominent Indian automotive component manufacturer known for its diverse range of products that cater to various segments of the automotive industry. Founded in 1985, the company has established itself as a key player in the production of automotive systems such as electrical components, polymer products, and safety systems. The group’s manufacturing capabilities include areas like switches, horns, lighting, and instrument clusters, among others.
