Spark Minda and Turntide Technologies Join Forces: New JV to Localize EV Powertrain Manufacturing in India

The Indian electric vehicle ecosystem has taken a significant step toward self-reliance. Minda Corporation Limited (the flagship company of Spark Minda) and Turntide Technologies have officially signed a joint venture (JV) agreement to develop and manufacture advanced EV powertrain solutions locally.

This strategic partnership is designed to accelerate the "Make in India" initiative by providing high-performance, cost-competitive components for the domestic market.

Key Highlights of the Spark Minda & Turntide JV

Under the terms of the agreement, Minda Corporation will hold a 49% stake through a wholly-owned special purpose vehicle (SPV), while Turntide Technologies will hold the majority 51% stake. The collaboration will focus on several critical components essential for the next generation of electric mobility:

• High and Low Voltage Motor Controllers : Essential for managing power flow between the battery and the motor.

• High-Performance Electric Motors : Tailored for the specific demands of Indian road conditions and vehicle duty cycles.

• Thermal Application Pumps : Critical for maintaining optimal battery and motor temperatures.

• Customized Controllers : Specialized electronics for various electric vehicle applications.

Strengthening the "Make in India" EV Supply Chain

The partnership aims to combine Turntide’s globally proven technology with Spark Minda’s extensive manufacturing footprint and deep relationships with Indian OEMs. By localizing these high-tech components, the JV expects to reduce lead times for manufacturers and lower the overall cost of electric vehicles for consumers.

Ashok Minda, Chairman and Group CEO of Minda Corporation Limited, noted that this partnership is a milestone in the company’s electrification journey. He emphasized that the goal is to deliver high-quality, localized solutions that enhance the resilience of the domestic EV supply chain.

Joint Venture Overview

Future Outlook for the Indian EV Market

As India continues to push for sustainable mobility through policy initiatives and rising consumer demand, the need for a robust local component ecosystem has never been higher. This JV is positioned to play a pivotal role in ensuring that the heart of the EV—the powertrain—is built within the country.

The joint venture is currently awaiting final regulatory approvals before commencing full-scale operations.