- It has received new orders with annualised peak value of more than Rs 600 crore for EV systems
- The company is targeting to achieve Rs 1500 crore in revenue from EV systems by FY26
Uno Minda has recently commissioned a new Electric Vehicle (EV) systems plant in Farukhnagar, Haryana under the joint venture with FRIWO AG Germany. This new plant would manufacture On-Board Chargers, Off-board chargers, Motor Control Units, DCDC converters, Battery Management Systems, and more products catering to two-wheeler and three-wheeler EVs.
Supplies from this plant have already started and are expected to further ramp-up in coming quarters with start of production (SOP) of more orders received.
The company has received new orders with annualised peak value of more than Rs 600 crore for EV systems during the Q1 FY24. The aggregate order book now stands at more than Rs 2500 crore annualised peak value from EV OEMs comprising of both existing and EV specific products. The company is targeting to achieve Rs 1500 crore in revenue from EV systems by FY26.
In August 2023, the company commissioned its second new EV systems plant under subsidiary Uno Minda Buehler Motor Private Limited (UMBM) in Bawal, Haryana. The plant will manufacture traction motors/BLDC motors for two-wheeler and three-wheeler EVs. UMBM has received orders from OEMs and is expected to start supplies by Q3 FY24.
