Uno Minda Inaugurates Two New Plants For EV components In Farukhnagar And Bawal

Uno Minda, a manufacturer specializing in automotive solutions, has inaugurated two manufacturing plants dedicated to EV components and systems.

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In collaboration with FRIWO AG Germany, Uno Minda has successfully initiated operations at its first EV systems plant in Farukhnagar, Haryana. This facility will manufacture a wide array of essential EV components, including On-Board Chargers, Off-board Chargers, Motor Control Units, DC-DC Converters, and Battery Management Systems. These products are specifically designed to cater to the growing market of EV two-wheelers and three-wheelers. The plant has commenced supplies, with plans to progressively scale up production to meet the escalating demand driven by a slew of upcoming orders.

In another development, Uno Minda's subsidiary, Uno Minda Buehler Motor Private Limited (UMBM), has commissioned its second EV systems plant in Bawal, Haryana. This facility is dedicated to the production of traction motors and BLDC motors for EV two-wheelers and three-wheelers. Bolstered by confirmed orders from original equipment manufacturers (OEMs), UMBM is on track to commence supplies by the third quarter of FY24.

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The company's growth trajectory in the EV sector is further underscored by the recent influx of new orders. With a combined annualized peak value exceeding ₹600 crores, these orders, secured during Q1 FY24, contribute significantly to the company's aggregate order book. This book now stands at over ₹2500 crores annualized peak value, encompassing both existing and EV-specific products. Uno Minda has set a target of achieving ₹1500 crores in revenue from EV systems by FY26.