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Minda Industries soars 8% on JV with Germany-based FRIWO for EV components

The company has entered into JV with FRIWO AG Germany to manufacture and supply various EV components in the Indian subcontinent with a planned capex of Rs 390 crore in the next six years.<br>

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Minda Industries soars 8% on JV with Germany-based FRIWO for EV components

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  1. Downloaded from: justpaste.it/6nbha Minda Industries soars 8% on JV with Germany- based FRIWO for EV components The company has entered into JV with FRIWO AG Germany to manufacture and supply various EV components in the Indian subcontinent with a planned capex of Rs 390 crore in the next six years. Shares of Minda Industries rallied 8 per cent to Rs 1,019, hitting a new 52-week high on the BSE in Monday's intra-day trade, after the auto anciallary company announced a fresh round of capex and investment spends. The auto components maker announced last Friday that it has entered into a joint venture (JV) agreement with FRIWO AG Germany to manufacture and supply various electric vehicle components in the Indian subcontinent with a planned capex of Rs 390 crore in the next six years. At 09:25 am, the stock was up 6 per cent at 1,005, as compared to a 0.53-per cent rise in the S&P BSE Sensex. A combined around 650,000 shares had changed hands on the NSE and

  2. BSE till the time of writing of this report. "Minda Industries, the flagship company of UNO Minda Group, and FRIWO AG have entered into a joint venture agreement to combine their manufacturing prowess and technical expertise to manufacture and supply various electric vehicle (EV) components in the Indian Subcontinent. The combined entity will offer full line e-drive-solutions for electrical two-and three wheelers in the Indian subcontinent market, combining extremely robust hardware and an outstanding software architecture," the company said in...read more

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