9th Sept 2024 Delhi NCR, India Minda Corporation Limited (referred to as “Minda Corp” or the “Company”; NSE: MINDACORP, BSE: 538962), the flagship company of Spark Minda, has announced the signing of the Technology Licensing Agreement with Sanco Connecting Technology, China, a leader in Electric Vehicle (EV) connection systems.
This agreement will enhance the product portfolio offering of Minda Corporation in the growing EV industry in the areas of Electrical Distribution Systems (EDS). Under this agreement, Minda Corp & Sanco will locally develop EV connecting systems, charging gun assemblies with sockets and accessories, bus bars, cell contact systems, Power Distribution Units (PDU) and Battery Distribution Units (BDU).
The partnership is a significant step enabling us to design, develop and manufacture advanced EDS solutions locally for the EV customers in India. This will also strengthen the vertical integration capabilities of Minda Corporation’s Wiring Harness Division, reinforcing its position as a key player in the EV Supply chain eco-system.
Commenting on this significant development, Mr. Aakash Minda, Executive Director said, “We are excited to partner with Sanco, a collaboration that marks a significant milestone in our pursuit to deliver comprehensive and customised Electrical Distribution System (EDS) solutions to the EV market. This partnership signifies our shared commitment to offer innovative & sustainable mobility solution for the growing Electric Vehicle industry. By offering new age EV solutions, we will enhance the overall kit value across vehicle segments, with a commitment to achieve successful localization, delivering greater value for our customers.”
Mr. Zhijian Zeng, Chairman of Sanco Connecting Technology (Guangdong) Co., Ltd., stated, “Sanco has chosen Minda Corporation as a strategic partner to expand our global footprint. This collaboration will significantly boost Sanco’s presence in India’s expanding EV market. By leveraging Minda Corporation’s strong relationships with global automakers and extensive local production and engineering capabilities, we aim to deliver world-class, technology-backed solutions to Indian OEMs.”