Minda Corporation Executive Director Aakash Minda said the order is “a testament to Spark Minda’s robust EV product portfolio and our focus on customer centricity”
Minda Corporation Ltd, a leading automotive components manufacturer in India, has bagged a Rs 750 crore order from a leading automobile manufacturer to produce battery chargers for electric vehicles (EVs). The order has a lifetime value of Rs 750 crore.
The product will be manufactured at wholly-owned subsidiary Spark Minda Green Mobility Systems’ facility at Pune, Minda Corporation said in a regulatory filing.
The company, however, did not disclose the name of the automobile manufacturer it has bagged the order.
“The lifetime value of the order is Rs 750 crore,” it added.
The order includes the supply of both AC and DC chargers for EVs. The AC chargers will be used for home and office charging, while the DC chargers will be used for fast charging at public charging stations.
The chargers will be manufactured in Pune at Minda Corporation’s wholly-owned subsidiary, Spark Minda Green Mobility Systems.
The order is a significant milestone for Minda Corporation in its expansion into the EV space. It is the company’s first significant order for EV battery chargers, a sign of the growing demand for EVs in India.
The order also validates Minda Corporation’s capabilities in the EV space.
The Indian government has set an ambitious target of achieving 30% electric vehicle sales by 2030. This will require a significant increase in the number of EV charging stations in the country.
Minda Corporation’s order is a sign that the EV charging infrastructure in India is starting to develop.
The order for EV battery chargers from Minda Corporation is a significant milestone for the company and for the Indian EV industry.
It is a sign of the growing demand for EVs in India and the need for a robust EV charging infrastructure.
The future of EV charging in India looks bright, and Minda Corporation is well-positioned to be a significant player in the market.
