Uno Minda, an auto components manufacturer, has announced the acquisition of the remaining 49.9% stake in its joint venture, Uno Minda EV Systems (UMEV), from its German partner, FRIWO Gerätebau GmbH, for ₹195 crore. Following the deal, Uno Minda will hold 100% ownership of UMEV, up from its previous stake of 50.1%, the company confirmed in a statement on Friday.
As part of the transaction, Uno Minda’s subsidiaries will also gain intellectual property rights and research and development (R&D) assets related to e-drive technologies from FRIWO’s facilities in Germany and Vietnam. The deal is expected to be finalized by the end of Q1 FY26.
Nirmal K. Minda, Chairman and Managing Director of Uno Minda Group, emphasized that full ownership and the integration of advanced e-drive technologies will position UMEV to strengthen its leadership in the Indian electric vehicle (EV) systems market.
Minda also highlighted the significant growth potential of the Indian electric vehicle sector, especially in the two-wheeler segment. He stated that this acquisition will help Uno Minda capitalize on new opportunities and accelerate its growth.
UMEV was originally established as a joint venture between Uno Minda and FRIWO in December 2021.
Uno Minda, formerly known as Minda Industries Ltd., is a global supplier of a wide range of automotive components and systems. The company is known for its expertise in producing advanced solutions across various segments, including lighting, acoustic systems, safety and security, seating, alloy wheels, and sensors.
