Auto components maker Uno Minda Ltd, formerly known as Minda Industries Ltd, said on Friday (March 22) the company has entered into a technical licence agreement (TLA) with Starcharge Energy Pte Ltd for the manufacture and sale of wall-mounted AC chargers designed for convenient home charging, in India.
These chargers are usually sold along with electric vehicles to the customers by the OEMs to provide ease of charging at home, Uno Minda said in a regulatory filing.
With this partnership, Uno Minda has consolidated its EV-specific product portfolio for the passenger car market, the company added.
StarCharge, a global leader in electric vehicle charging infrastructure and microgrid solutions, operates in 67 countries and regions with manufacturing facilities in the US, Vietnam, and China.
With millions of electric vehicle charging stations installed worldwide, StarCharge is at the forefront of providing cutting-edge charging solutions for diverse applications, ranging from private homeowners to commercial charging to electric fleet usage.
Nirmal K. Minda, CMD, Uno Minda Group, said, "Uno Minda is proud to announce the expansion of its electric vehicle (EV) portfolio into the passenger car segment through this strategic partnership with StarCharge. This collaboration further strengthens our dedication to 'Make in India' and to accelerating the nation's transition to an electrified future."
Shao Danwei, Chairperson, StarCharge said, "We are pleased to partner with Uno Minda to pursue EV charging systems and solutions opportunities in India. We are optimistic about the outlook for EV adoption in India."
Shares of Uno Minda Ltd ended at ₹647.40, down by ₹2, or 0.31%, on the BSE.
(Edited by : Shoma Bhattacharjee)
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