Minda Industries and FRIWO to form an $69m joint venture.

Minda Industries, a manufacturer and online supplier of auto parts for 2 wheelers, cars and commercial vehicles, and FRIWO, a manufacturer of technically leading power supply devices and e-drive solutions, agreed to form an $69m joint venture. "Electrification will play an important role in the transformation of the mobility industry and presents major opportunities to entire mobility ecosystem. We are delighted to partner with FR/WO to expand our product capabilities to serve such rising EV opportunities. By combining our technologies and production capabilities, we can create a true leader in the rapidly growing e-vehicles market. Partnership has been forged at opportune time where EV Industry is on the cusp of growth trajectory facilitated by favorable government policy and incentives. We are confident to play a key catalyst role in electric vehicle revolution and sustainability mobility in India," Nirmal K Minda, Uno Minda Group Chairman and Managing Director.