Newsletter
Minda Corporation’s EV arm, Spark Minda Green Mobility, has partnered UK-based Turntide Drives to build next-gen EV components in India.
The two will set up a new joint venture, where Spark Minda holds 49% and Turntide 51%.
What’s the deal: the JV will develop and manufacture motor controllers, axial flux electric motors, and thermal pumps used inside electric vehicles. These components are part of the EV powertrain, essentially the systems that control and drive an electric vehicle’s motor.
What this means: as electric vehicles replace internal combustion engines, the value in a car is shifting toward electronics, powertrain controllers, and electric motors. By partnering with Turntide, Minda gets access to global EV technology without spending years developing it from scratch.
Big picture: for India’s EV ecosystem, this means local manufacturing through such partnerships as many high-end EV components are still imported, especially advanced motor technologies and controllers.
As India targets 30% EV penetration by 2030 and the EV market is expected to cross $100 billion by the end of the decade, building local capability for critical parts like motors and controllers is essential.
