Tuesday, June 25, 2024

Minda Bags Electric Charger Order Worth Rs 750 Crore After Imported One’s Get Busted

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Minda Corporation Limited (referred to as “Minda Corp” or the “Company”; NSE: MINDACORP, BSE: 538962), the flagship company of Spark Minda has secured a significant contract from a leading OEM to produce Battery Chargers for Electric Vehicles (EVs). The lifetime value of the order is INR 750 crores. This big order win underscores company’s commitment towards sustainable mobility and enhances its range of EV offerings. This is a move after governement caught a lot of manufacturers selling imported chargers which was not part of FAME subsidy and against many other aspects of dealing with a customer.

Speaking about this significant achievement, Mr. Aakash Minda, Executive Director said,

“This prestigious order is a testament to Spark Minda’s robust EV product portfolio and our focus on customer-centricity. This milestone underlines our commitment towards promoting sustainable mobility and our ability to adapt to the evolving demands of the global automotive industry”.

The awarded product will be manufactured at Spark Minda’s state-of-the-art, Spark Minda Green Mobility Systems Private Limited (a wholly owned subsidiary of Minda Corporation Limited) facility at Pune.

During the last financial year, electric vehicles accounted for nearly 20% of the total orders win. This project will further solidify Spark Minda’s stewardship towards green and connected mobility and underlines company’s position as forward-looking, future-ready organization, dedicated to revolutionizing the automotive sector through innovation and technological excellence.

About Minda Corporation (BSE:538962; NSE: MINDACORP)

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Minda Corporation is one of the leading automotive component manufacturing companies in India with a pan-India presence and significant international footprint. The Company was incorporated in 1985. Minda Corporation is the flagship company of Spark Minda, which was part of the erstwhile Minda Group. The Company has a diversified product portfolio that encompasses Mechatronics; Information and Connected Systems, Plastic and Interiors, Electronic Manufacturing Excellence and Spark Minda Green Mobility for auto OEMs. These products cater to 2/3 wheelers, passenger vehicles, commercial vehicles, off-road vehicles and after-market. The Company has a diversified customer base including Indian and global original equipment manufacturers and Tier-1 customers.

For assimilating the latest technologies, Minda Corporation has a dedicated R&D facility and collaborations with the pioneers and leaders of the automobile industry which has provided Minda Corporation with the cutting-edge product design and technology to meet strict international quality standards.

Mohit Soni
Mohit Sonihttps://www.thrustzone.com/
NOT A Commander, Director, Editor-In-This/ That, CEO, MD, President, Entrepreneur, etc etc. Just a first employee at Thrust Zone with a team of enthusiasts who love car and motorcycles more than anything else in the world, just like I do. Hashtag blessed

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