Minda Corporation Shares Rally 4% on JV with Turntide Drives 

March 10, 2026March 10, 2026

Shares of Minda Corporation Ltd surged about 4% on Tuesday, 10 March, after its subsidiary inked a joint venture (JV) agreement with Turntide Drives Ltd to develop and manufacture innovative motor controllers and customised controllers for the EV industry. 

Minda Corporation announced that its wholly owned subsidiary Spark Minda Green Mobility Systems Pvt Ltd has inked a joint venture agreement with Turntide Drives Ltd to design and manufacture components for the electric vehicle industry.

The collaboration will concentrate on the development and production of next-generation motor controllers, axial flux motors, thermal pumps, and other specialised controllers, primarily for India’s expanding electric car market. According to the exchange filing, the joint venture would operate through a newly incorporated corporation in India. 
 
Under the planned shareholding structure, Spark Minda Green Mobility Systems will own 49% of the partnership, with Turntide Drives owning the other 51%. The firms stated the alliance aimed to meet the country’s growing need for sophisticated electric vehicle technologies.

Minda Corp is a significant automotive component manufacturer in India, with a presence across the country and an international impact.

We seek to deliver sophisticated, high-quality, and cost-competitive EV powertrain solutions that assist India’s transition to sustainable transportation by combining Turntide’s globally established technology with Minda Corp’s strong local presence, said Ashok Minda, chairman and Group CEO of Minda Corp. “This will result in meeting Make in India objectives and enhance the resilience of the domestic supply chain of the EV ecosystem.”

At 2:11 pm, the shares of Minda Corp were trading 2.28% higher at Rs 509 on NSE.

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