Minda Corporation’s wholly owned subsidiary Spark Minda Green Mobility Systems has signed a joint venture agreement with Turntide Drives Limited, United Kingdom, on 9 March 2026, to develop and manufacture advanced motor controllers, axial flux motors, and thermal pumps for electric vehicles.
The joint venture company will be incorporated in India with shareholding split at 49% for Spark Minda Green Mobility Systems and 51% for Turntide Drives. The board will comprise five directors, with two nominated by Spark Minda and three by Turntide. Neither party may transfer their shares for three years from the execution date. Turntide will provide proprietary technologies and technical know-how required for manufacturing in India.
The venture targets the rapidly growing Indian EV market, focusing on high and low-voltage motor controllers, high-performance electric motors, and pumps for thermal applications. It aims to meet original equipment manufacturer requirements whilst delivering cost advantages through local manufacturing. Ashok Minda, Chairman and Group CEO, stated the collaboration combines globally proven technology with Minda’s local presence to deliver advanced, cost-competitive EV powertrains and strengthen India’s domestic EV supply chain.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).