Minda Corporation Limited, the flagship company of the Spark Minda Group, has entered into a strategic joint venture agreement with Turntide Technologies to develop and manufacture advanced electric vehicle powertrain solutions for the Indian market. The partnership is subject to regulatory approvals and aims to strengthen local capabilities in next-generation mobility technologies.
Under the agreement, the new joint venture company will focus on producing high-performance components designed for electric vehicles, including high-voltage and low-voltage motor controllers, electric motors, pumps for thermal management systems, and specialised control systems tailored to the needs of the Indian EV sector. The ownership structure of the joint venture will see Minda Corporation holding a 49 percent stake through a wholly owned special purpose vehicle, while Turntide Technologies will hold a 51 percent share.
India’s electric vehicle sector has been expanding rapidly, supported by government initiatives promoting cleaner transportation and the increasing demand for sustainable mobility solutions. The joint venture aims to address the evolving needs of vehicle manufacturers by offering locally manufactured powertrain technologies built to global performance standards.
The collaboration will combine Turntide’s expertise in advanced electric motor systems and power electronics with Minda Corporation’s manufacturing infrastructure, engineering capabilities, and established relationships with original equipment manufacturers in India. By localising the production of advanced EV components, the partnership seeks to reduce supply chain dependence on imported technologies while improving cost competitiveness and responsiveness to market requirements.
Ashok Minda, Chairman and Group Chief Executive Officer of Minda Corporation Limited, said the collaboration represents an important step in the company’s strategy to expand its role in the electric mobility sector. He noted that integrating Turntide’s technology with Minda Corporation’s manufacturing presence in India will help deliver high-quality and cost-effective solutions that support the country’s transition toward electric transportation.
Steve Hornyak, Chief Executive Officer of Turntide Technologies, said India’s electrification journey plays a key role in the company’s global growth strategy. He added that partnering with Minda Corporation will enable Turntide to bring its electric powertrain technologies closer to customers in India while supporting the development of the country’s rapidly evolving mobility ecosystem.
Turntide Technologies designs and manufactures electric motors, power electronics, energy storage systems, and thermal management technologies used in transportation and industrial applications worldwide.
Minda Corporation, established in 1985, is a major manufacturer of automotive components in India. The company provides products and systems for two-wheelers, passenger vehicles, commercial vehicles, off-highway vehicles, and aftermarket applications. Through ongoing investments in research, development, and global partnerships, the company continues to expand its role in advanced automotive technologies.
