Powering India: Minda Corporation & Turntide to Form a Joint Venture 

Minda Corporation Limited (Minda Corp or the company; NSE: MINDACORP, BSE: 538962), the flagship company of Spark Minda, announced a strategic joint venture agreement with Turntide Technologies (Turntide), subject to the necessary regulatory approvals. Under the joint venture, Minda Corp, through its wholly owned SPV will hold 49% stake, and Turntide will hold 51%. This venture will bring new generation powertrain solutions for the electric vehicle industry in India. 

The joint venture company will focus on the development and manufacturing of advanced new generation high and low-voltage motor controllers, high-voltage and high-performance electric motors, pumps for thermal applications, and other customised controllers tailored primarily for India’s growing electric vehicle (EV) segment.

This partnership aims to bring Turntide’s advanced global technology closer to the Indian market and deliver localized, premium products suited to domestic requirements. 

India’s EV market is expanding rapidly. The joint venture will leverage the combined strengths of Minda Corp and Turntide to accelerate the development cycles and strengthen the local supplier ecosystem for electric vehicles. The new venture aims to meet OEMs’ stringent performance and quality requirements while delivering cost advantages through local manufacturing and cutting-edge solutions.

Mr. Ashok Minda, Chairman and Group CEO of Minda Corporation Limited, said, “This partnership with Turntide marks a significant milestone in our journey towards electrification. By combining Turntide’s globally proven technology with Minda Corporation Limited’s strong local presence, we aim to deliver advanced, high-quality, and cost-competitive EV powertrain solutions that support India’s transition to sustainable mobility. This will result to meet ‘Make in India’ objectives and enhance the resilience of domestic supply chain of EV ecosystem.”

Mr. Steve Hornyak, CEO of Turntide Technologies, said, “India’s electrification growth story is central to Turntide’s strategy, and this joint venture is a key step in bringing our powertrain technologies closer to customers in the market. We’re proud to partner with Minda Corporation, a fantastic team with decades of experience serving global OEMs, as we deliver localized, high-performance solutions for India’s rapidly evolving mobility ecosystem.”

About Turntide Technologies

Turntide Technologies designs and manufactures best-in-class electric motors, power electronics, energy storage, and thermal equipment for anything that moves.

Turntide Technologies operates in North America, the U.K., and India and serves customers in global markets and industries including off highway automotive, commercial vehicles, rail, marine, light vehicles, and premium automotive.

About Minda Corporation Limited

Minda Corporation is one of the leading automotive component manufacturing companies in India with a pan-India presence and significant international footprint. The Company was incorporated in 1985. Minda Corporation is the flagship company of Spark Minda, which was part of the erstwhile Minda Group. The Company has a diversified product portfolio that encompasses Mechatronics, Information and Connected Systems and Plastic and Interior for auto OEMs. These products cater to two and three- wheelers, passenger vehicles, commercial vehicles, off-roaders and after-market. The Company has a diversified customer base, including Indian and global original equipment manufacturers and Tier-1 customers. For assimilating the latest technologies, Minda Corporation has a dedicated R&D facility and collaborations with the pioneers and leaders of the automobile industry. This has provided Minda Corporation with the cutting-edge in product design and technology to meet strict international quality standards.