The joint venture will localise EV motors, controllers, and pumps, strengthening India’s electric mobility supply chain.
Minda Corporation Limited and Turntide Technologies have announced a strategic joint venture to develop and manufacture advanced powertrain components for India’s fast-growing electric vehicle (EV) industry, subject to regulatory approvals. Under the agreement, Minda Corporation will hold a 49 percent stake through a wholly owned special purpose vehicle, while Turntide Technologies will hold the remaining 51 percent.
The joint venture will focus on the development and local manufacturing of high- and low-voltage motor controllers, high-performance electric motors, thermal application pumps, and customised controllers tailored for India’s EV market. The collaboration aims to localise Turntide’s globally proven technologies while adapting them to domestic market needs.
The venture will primarily cater to original equipment manufacturers (OEMs) operating in India, with an emphasis on meeting stringent performance and quality standards while achieving cost efficiencies through local production.
Ashok Minda, Chairman and Group CEO of Minda Corporation Limited, said the partnership represents a key milestone in the company’s electrification journey. By combining Turntide’s global technology expertise with Minda’s strong domestic presence, the collaboration aims to deliver high-quality and cost-competitive EV powertrain solutions while supporting India’s ‘Make in India’ initiative and strengthening the domestic EV supply chain.
Steve Hornyak, CEO of Turntide Technologies, said India’s rapid electrification is central to the company’s global strategy. He added that the joint venture will help bring Turntide’s powertrain technologies closer to customers in the country while delivering localised, high-performance solutions for India’s evolving mobility ecosystem.
