Powering the Future: Minda Corp and Turntide Join Forces for EV Revolution

Minda Corporation and Turntide Technologies have formed a joint venture to advance powertrain solutions for electric vehicles. Minda holds 49% stake, while Turntide owns 51%. The partnership aims to develop advanced motor controllers and electric motors, primarily for India's EV market, leveraging both companies' strengths.

Auto components manufacturer Minda Corporation announced a strategic joint venture with Turntide Technologies on Tuesday. This collaboration aims to deliver state-of-the-art powertrain solutions for the electric vehicle sector.

Minda Corp, through its wholly owned SPV, will take a 49% stake in the new entity, with Turntide holding the remaining 51%. The partnership will focus on developing and manufacturing advanced generation motor controllers, high-performance electric motors, and thermal application pumps tailored for India's burgeoning EV market, according to a company statement.

The joint venture aims to expedite development cycles and bolster the local supplier ecosystem. "This partnership with Turntide marks a significant milestone in our journey towards electrification," said Minda Corporation Chairman and Group CEO Ashok Minda. Turntide's CEO, Steve Hornyak, emphasized the importance of India's electrification as central to their growth strategy.

(With inputs from agencies.)