Minda Corporation Partners with China's Sanco to Enter India's EV Market
Minda Corporation Ltd, a leading auto components manufacturer, announced that it has entered into a technology licensing agreement with China's Sanco Connecting Technology. This partnership aims to provide advanced electrical distribution systems (EDS) solutions tailored for the burgeoning electric vehicle (EV) market in India. Sanco Connecting Technology is a prominent player in EV connection systems.
Under the agreement, Minda Corp and Sanco will jointly develop a range of EV components, including connecting systems, charging gun assemblies with sockets and accessories, bus bars, cell contact systems, power distribution units (PDU), and battery distribution units (BDU). These products will be locally manufactured, enhancing Minda Corp's offerings in the growing EV sector.
"This agreement will expand Minda Corporation's product portfolio in the rapidly evolving EV industry, particularly in the area of Electrical Distribution Systems", the company stated.
Aakash Minda, Executive Director of Minda Corporation, expressed confidence in the partnership, saying, "By offering new-age EV solutions, we will increase the overall kit value across vehicle segments, with a strong focus on successful localization, thereby delivering greater value to our customers".
Zhijian Zeng, Chairman of Sanco Connecting Technology, highlighted the strategic importance of the collaboration, noting that it will significantly bolster Sanco's presence in India's expanding EV market. "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", Zeng added.
