Minda Corporation, the flagship company of Spark Minda, has secured a contract worth a lifetime value of Rs 750 crore from a leading original equipment manufacturer (OEM), to produce battery chargers for electric vehicles (EVs).
The company, however, did not disclose the name of the OEM, but said the big order win underscores the company’s commitment towards sustainable mobility and enhances its range of EV offerings.
“This milestone underlines our commitment to promoting sustainable mobility and our ability to adapt to the evolving demands of the global automotive industry,” Aakash Minda, Executive Director, Minda Corporation, said on Tuesday.
During the last financial year, EVs accounted for nearly 20 per cent of the total orders won. This project will further solidify Spark Minda’s stewardship towards green and connected mobility, and underlines the company’s position as a forward-looking, future-ready organisation, he added.
The battery chargers will be manufactured at Spark Minda’s wholly-owned subsidiary – Spark Minda Green Mobility Systems facility at Pune – where it manufactures products for 2-3 wheelers, passenger vehicles, commercial vehicles, off-road vehicles and the after-market.