### **Overview** **Uno Minda Limited (formerly Minda Industries Limited)** is a leading **global Tier-1 automotive component manufacturer** and technology innovator with over six decades of experience. Founded in 1958, the company is headquartered in India and has evolved into one of the country’s most diversified auto component groups. It serves major original equipment manufacturers (OEMs) and replacement markets across **2-wheelers, 3-wheelers, 4-wheelers (passenger and commercial vehicles)**, and emerging mobility platforms. Uno Minda is strategically positioned at the intersection of **traditional internal combustion engine (ICE)** and **next-generation electrified, connected, and autonomous mobility**, following a powertrain-agnostic model. The company leverages strong **R&D capabilities, global partnerships, in-house innovation**, and **strategic acquisitions** to drive growth across product lines and geographies. --- ### **Key Highlights (as of August–November 2025)** #### 🌍 **Global Footprint & Operations** - Operates **76 manufacturing plants** globally across India, Indonesia, Vietnam, Mexico, Germany, Spain, Japan, and the Czech Republic. - Employs over **37,000 people** worldwide. - Serves both **domestic (86%) and international (14%) markets**, with exports to SAARC, ASEAN, EU, LATAM, MENA, and Africa. - Distributes through a robust **aftermarket network of 1,600+ business partners, 55,000–75,000 retailers**, and over **150,000 workshops** across India. #### 🔧 **Product Portfolio & Leadership Position** Uno Minda’s product offerings span **20+ automotive categories**, with leadership in: - **Automotive Switches** – **India’s #1 supplier** for 2W & 4W. - **Alloy Wheels** – **Largest manufacturer of 4W wheels in India by capacity**. - **Automotive Lighting** – **Second-largest player in India**. - **Acoustics (Horns)** – **India’s #1 horn manufacturer**, **2nd globally**. - **Seating Systems** – **Leading supplier for CVs, buses, and 2Ws**. - **Aftermarket Solutions** – Market leader in volume (#1), 2nd in value. **Revenue Breakdown (FY2025):** - ~79% from core five segments: **Switches, Alloy Wheels, Lighting, Seating, Acoustics** - ~26% from **Aftermarket**, driven by strong brand recall and expanding SKU base (6,500+ SKUs). #### ⚡ **Electric Mobility as Key Growth Driver** Uno Minda is aggressively investing in **electric vehicle (EV) ecosystem technologies**, targeting both **2W/3W and 4W platforms**: - **Full acquisition of FRIWO JV** (UMEVSPL) completed in Aug 2025 – now holds **100% stake**, acquiring: - Intellectual property rights (IPR), R&D teams, technical know-how from **Germany and Vietnam**. - Complete **e-drive technology stack** including hardware, software, personnel, and facilities. - Enables **in-house e-mobility production** with **no third-party dependence** on motor controllers, battery management systems (BMS), or onboard chargers. - **Uno Minda EV Systems Pvt Ltd** reported **₹382 crores** in revenue in FY25, up **105% YoY**. - Supplying **onboard/offboard chargers**, **BMS**, **traction motors**, and **controllers** to EV OEMs. - Secured anchor orders for **e-Axle systems** and **EVSE**, validating entry into advanced 4W EV drivetrain. #### 🤝 **Strategic Collaborations & JVs** - **Inovance Automotive JV (70% owned)**: For high-voltage EV components like **inverters, motors, CCS, and e-axles**. - ₹423 crore investment; new greenfield plant in Khed, Pune. - **Phase-1 commissioning targeted in Q2 FY27**. - Regulatory approvals underway. - **Buehler Motor JV**: Transitioning to a **Technology License Agreement (TLA)** due to partner's capital constraints. - Continues strategic partnership in **traction motors** for 2W/3W in SAARC region. - Board approved acquisition of remaining stake in **Uno Minda Buehler Motor**. - **Aisin Corporation TLA**: Manufacturing **sunroofs in India**; new plant in **Bawal, Haryana** (₹62.50 crore capex). - First supply order from OEM, production starts Q4 FY26–27. - **StarCharge TLA**: Production of **EVSE (3.3kW to 22kW)** for home charging; deliveries from Q3 FY25–26. #### 🏭 **Capacity Expansion & Greenfield Investments** Uno Minda is executing a **multi-phase capital investment strategy (₹1,210–1,300 crores)** to strengthen domestic manufacturing: | **Project** | **Location** | **Investment (₹ Crore)** | **Capacity & Status** | |-----------|-------------|------------------------|-----------------------| | 4W Alloy Wheel Plant (Phase-I) | Kharkhoda, Haryana | 542 | 120,000 wheels/month; **Phase-1 in Q2 FY26** | | 4W Alloy Wheel Expansion | Bawal, Haryana (via UML) | 190 | +60,000 wheels/month; 30,000 already operational | | 2W Alloy Wheel Plant | Supa, Maharashtra | 300 | 2 million/year; **Q1 FY26 start-up** | | 4W Lighting Facility | Pune, Khed City | 400 | Phase-I underway; pixelated digital tail lamps | | EV Powertrain Plant | Khed, Pune (via JV) | 423 | Phase-I by Q2 FY27 | | Seating Components Plant | Farrukhnagar, Haryana | 120 | Commercial ops by Q3 FY27 | - Acquired **approx. 95 acres in Kharkhoda**, **88 acres in Sambhajinagar**, **86 acres in Pune**, and land in **Hosur and Gujarat** for future expansions. - New **EV casting plant in Khed** for high-voltage aluminum drivetrain casings – **high CAPEX with low asset turnover**, but critical for backward integration in 4W EV platforms. #### 🔬 **R&D & Innovation – Engine of Future Mobility** Uno Minda operates a **centralized innovation ecosystem** built around **PACE megatrends**: **P**ersonalization, **A**utonomous, **C**onnected, **E**lectric. - **CREAT (Central R&D Hub)**: Flagship center in **Gurgaon, Chennai, Pune, and Germany** with **415+ engineers**. - Focus on **embedded systems, software, functional safety, ADAS, EV systems**. - Over **75 active R&D projects** in development. - Developed **wireless chargers, AVAS, IoT platforms, telematics control units, ADAS controllers**. - **37 R&D & Engineering Centers** globally across India, Germany, Spain, Japan, and Czech Republic. - **INITIA Design Studio**: In-house mobility design arm for digital sculpting, UX/UI, and concept vehicle design. - **Patents & IPRs**: 1,000+ patents and design registrations (750+ granted). #### 🚘 **Technological Advancements & Product Leadership** - **Lighting Innovation**: - Supplying **signature LED DRLs, welcome sequences, and charging indicators** to India’s top EV manufacturer. - Expanded portfolio to include **pixelated digital tail lamps, OLED lamps, adaptive lighting, logo projectors**. - Revenue from lighting rose **22% YoY to ₹3,863 crores (FY2024–25)**. - **ADAS & Sensors**: - **Sensor & ADAS business revenue: ₹804 crores** (FY24–25). - Localizing **camera-based parking assist, TPMS, wheel speed sensors, brake sensors**. - Secured business from leading OEMs. - **Switches Division Revenue: ₹4,204 crores (FY2024–25)** – 15% YoY growth. - Launched **haptic capacitive switches** in domestic passenger cars. - Expanding **export footprint** to US and Europe. - **Alternative Fuels Business: ₹501 crores (FY25)** via **Westport JV**, benefiting from rising CNG adoption. - **Blow Moulding Division**: Growing due to lightweighting demands in EVs; developing **multi-layer emission control components**. --- ### **Strategic Strengths** 1. **Diversified, Engine-Agnostic Portfolio** – Resilient across ICE, CNG, and BEV platforms. 2. **Global Partnerships & Localized Manufacturing** – JVs with **FRIWO, Inovance, Aisin, Buehler, Tachi-S**. 3. **End-to-End In-House R&D** – From concept design to mass production. 4. **Strong Aftermarket Presence** – ₹1,115 crores revenue (FY24–25), expanding into e-commerce (unomindakart.com). 5. **EV Readiness** – Full **e-drive capability**, integrated components for 2W–4W platforms. --- ### **Challenges & Mitigations** - **EV Market Volatility (2W segment)**: Demand fluctuations managed via alternate sourcing & OEM collaboration. - **Rare Earth Dependency**: Low exposure; mitigated through design optimization. - **High CAPEX Projects**: Asset turnover may remain low initially, but long-term growth in EV components justifies investment. - **European Market Volatility**: Impact on European services arm monitored closely. ---