Minda Corporation Partners with China’s Sanco to Expand EV Market Footprint

For more than 60 years, Spark Minda has been a significant force in the global automotive sector. As a leading manufacturer of automotive components, we supply OEMs and Tier-I suppliers. The group, which is estimated to be worth US $610 million and employs over 16,000 people, provides products to some of India’s top producers of motorcycles and scooters as well as off-road, passenger, and commercial vehicle manufacturers. It can also be found in Asia, Europe, Japan, Vietnam, Uzbekistan, and Indonesia. We are also able to service the aftermarket in India thanks to our robust network of roughly 650 dealers.

Minda Corp Partners With Chinese Firm Sanco:

China’s Sanco Connecting Technology and auto component manufacturer Minda Corporation Ltd. have inked a technology licensing agreement so that Minda can provide electrical distribution systems solutions for the electric vehicle market. In terms of EV connection systems, Sanco Connecting Technologies is a pioneer.

The company released a statement stating that Minda Corp & Sanco will locally develop EV connecting systems, bus bars, cell contact systems, power distribution units (PDU), and battery distribution units (BDU) as well as charging gun assemblies with sockets and accessories.

Minda Corporation Ltd., an auto components manufacturer, has announced its entry into a technology licensing agreement with Sanco Connecting Technology of China to deliver electrical distribution systems solutions for the electric vehicle market.In terms of EV connection systems, Sanco Connecting Technologies is a pioneer.

According to the company’s statement, Minda Corp & Sanco will locally develop battery distribution units (BDU), power distribution units (PDU), bus bars, cell contact systems, charging gun assemblies with sockets and accessories, and EV connecting systems. It continued, “This agreement will improve Minda Corporation’s product portfolio offering in the areas of Electrical Distribution Systems (EDS) in the expanding EV industry.”

Executive Director of Minda Corporation Aakash Minda said:

Aakash Minda, Executive Director of Minda Corporation, commented on the partnership, saying, “We will deliver greater value for our customers by offering new-age EV solutions that will enhance the overall kit value across vehicle segments, with a commitment to achieve successful localization.”

Chairman of Sanco, Zhijian Zeng, said:

Chairman Zhijian Zeng of Sanco Connecting Technology (Guangdong) Co., Ltd. stated that Minda Corporation has been selected by the company as a strategic partner in order to increase its global presence. “This partnership will greatly increase Sanco’s visibility in India’s growing EV market.”  “Our goal is to provide Indian OEMs with top-notch, technologically advanced solutions by utilising Minda Corporation’s robust connections with international automakers and broad in-country production and engineering capacities.”

Minda Corporation Ltd stock up by 2%:

Minda Corporation Ltd stock price is running at Rs. 586.35 per share which is more than 2% up in the Intraday segment. TIll now Rs. 590 is the highest traded price for the Minda Corporation.

Conclusion: Minda Corporation Ltd., is going to grow with great space with the current agreement with Sanco Connecting Technology.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.