Minda Corporation Signs Technology Licensing Agreement with Sanco to Offer Electrical Distribution Systems Solutions for EV Market

Minda Corporation Limited (referred to as “Minda Corp” or the “Company”; NSE: MINDACORP, BSE: 538962), the flagship company of Spark Minda, has announced the signing of Technology Licensing Agreement with Sanco Connecting Technology, China, a leader in Electric Vehicle (EV) connection systems.

R to L: Mr Deepak Arora, CEO, Wiring Harness Division, Minda Corp, Mr Joy Panda, VP, Business Head, Component Division, Minda Corp, Mrs Lisa Lin, CEO, Sanco, Mr Zhijan Zeng, Chairman, Sanco

This agreement will enhance the product portfolio offering of Minda Corporation in the growing EV industry in the areas of Electrical Distribution Systems (EDS). Under this agreement, Minda Corp & Sanco will locally develop EV connecting systems, charging gun assemblies with sockets and accessories, bus bars, cell contact systems, Power Distribution Units (PDU) and Battery Distribution Units (BDU).

The partnership is a significant step enabling us to design, develop and manufacture advanced EDS solutions locally for the EV customers in India. This will also strengthen the vertical integration capabilities of Minda Corporation’s Wiring Harness Division, reinforcing its position as a key player in the EV Supply chain eco-system.

Commenting on this significant development, Mr. Aakash Minda, Executive Director said, “We are excited to partner with Sanco, a collaboration that marks a significant milestone in our pursuit to deliver comprehensive and customised Electrical Distribution System (EDS) solutions to the EV market. This partnership signifies our shared commitment to offer innovative & sustainable mobility solution for the growing Electric Vehicle industry. By offering new age EV solutions, we will enhance the overall kit value across vehicle segments, with a commitment to achieve successful localization, delivering greater value for our customers.”

Mr. Zhijian Zeng, Chairman of Sanco Connecting Technology (Guangdong) Co., Ltd., stated, “Sanco has chosen Minda Corporation as a strategic partner to expand our global footprint. This collaboration will significantly boost Sanco’s presence in India’s expanding EV market. By leveraging Minda Corporation’s strong relationships with global automakers and extensive local production and engineering capabilities, we aim to deliver world-class, technology-backed solutions to Indian OEMs.”

About Minda Corporation (BSE:538962; NSE: MINDACORP)

Minda Corporation is one of the leading automotive component manufacturing companies in India with a pan-India presence and significant international footprint. The Company was incorporated in 1985. Minda Corporation is the flagship company of Spark Minda, which was part of the erstwhile Minda Group. The Company has a diversified product portfolio that encompasses Mechatronics; Information and Connected Systems and Plastic and Interior for auto OEMs. These products cater to 2/3 wheelers, passenger vehicles, commercial vehicles, off-roaders and after-market. The Company has a diversified customer base including Indian and global original equipment manufacturers and Tier-1 customers.

For assimilating the latest technologies, Minda Corporation has a dedicated R&D facility and collaborations with the pioneers and leaders of the automobile industry. This has provided Minda Corporation with the cutting-edge in product design and technology to meet strict international quality standards.

For further information on Minda Corporation visit www.sparkminda.com.

About Sanco Connecting Technology (Guangdong) Co., Ltd.

Founded in 2009 and headquartered in Guangdong, Sanco Connecting Technology (Guangdong) Co., Ltd. is a national high-tech enterprise integrating R&D, design, manufacturing, sales and after-sales service.

With 4 factories having construction area exceeding 150,000 sq meters, Sanco has complete manufacturing capabilities such as precision mold, cold forging, injection molding, stamping, CNC machining, electroplating, electrostatic spraying and assembly. It caters to new energy vehicles, industrial automation, rail transit, energy storage, communication, power and other industries.

With superior product performance, Sanco has won the title of national high-tech enterprise, advanced unit of industrial design quality brand, specialized and new “little giant” enterprise, and has been recognized by many marquee industry customers.