Auto parts company Minda bags ₹750 cr order for EV battery chargers

Auto components maker Minda Corporation Ltd on Tuesday said it has bagged a ₹750-crore contract from a leading automobile manufacturer to produce battery chargers for electric vehicles. The product will be manufactured at wholly-owned subsidiary Spark Minda Green Mobility Systems' facility at Pune, Minda Corporation said in a regulatory filing.

The company, however, did not disclose the name of the automobile manufacturer it has bagged the order from.

"The lifetime value of the order is ₹750 crore," it added.

Minda Corporation Executive Director Aakash Minda said the order is "a testament to Spark Minda's robust EV product portfolio and our focus on customer centricity".

He further said, "This milestone underlines our commitment towards promoting sustainable mobility and our ability to adapt to the evolving demands of the global automotive industry."

The company said during the last financial year, electric vehicles accounted for nearly 20 % of the total orders won and this project will further solidify Spark Minda's stewardship towards green and connected mobility.