Minda Corporation’s wholly owned subsidiary Spark Minda Green Mobility Systems Private Limited has signed a joint venture agreement with Turntide Drives Limited, United Kingdom, on 9 March 2026 to develop and manufacture advanced new generation motor controllers, axial flux motors, and pumps for thermal applications.
The joint venture will be structured with Spark Minda holding 49% equity stake and Turntide holding 51%. The new joint venture company will be incorporated in India and will focus on delivering advanced EV and hybrid powertrain solutions for the Indian market, including high and low-voltage motor controllers, high-voltage and high-performance electric motors, and thermal management systems. The venture aims to meet original equipment manufacturers’ stringent performance and quality requirements while delivering cost advantages through local manufacturing.
The joint venture board will comprise five directors: two nominated by Spark Minda and three by Turntide. Neither party shall transfer their shareholding for three years from execution. Turntide will provide proprietary technologies and technical know-how required for development and manufacturing in India on mutually agreed terms. Ashok Minda, Chairman and Group CEO, stated the collaboration combines globally proven technology with local presence to deliver advanced, high-quality and cost-competitive EV powertrains.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).