Board of Uno Minda approves JV with Buehler Motor GmbH

15 Nov 2022 , 01:34 AM

The Board of Uno Minda at its meeting held on 10 November 2022 has approved to enter into a joint venture agreement with Buehler Motor GmbH BUEHLER a leading global supplier of customized mechatronic drive solutions and accordingly to make a joint venture company JV Company with BUEHLER to develop manufacture and market traction motors in India and other SAARC nations The JV will offer traction motors for battery driven EV Electric Vehicle 2 wheelers and 3 wheelers Board approved to make equity investment upto Rs 17 crore from time to time in one or more tranches for 501Percentage stake in the proposed JV Company in India The JV Company will be a subsidiary of Uno Minda The total capital expenditure to be incurred over the period of six years in the proposed JV Company would be Rs 110 Crore Approx The Board also approved to incorporate a joint venture company of Uno Minda formerly known as Minda Industries and BUEHLER in India under the name and style of Uno Minda Buehler Motor Private Limited or any other name as may be approved by Registrar of Companies NCT of Delhi Haryana ROC and to make investment by way of subscription to the Memorandum and Articles of Association of the proposed Joint Venture company