Minda Corp signs licensing deal with China's Sanco to enter EV market

06 Sep 2024 CW Team

Minda Corporation, an auto components maker, announced on Wednesday that it has entered into a technology licensing agreement with Sanco Connecting Technology, a leading Chinese company in electric vehicle (EV) connection systems. This partnership is aimed at providing electrical distribution systems solutions for the EV market in India.

Under this agreement, the two companies will collaborate to locally develop various EV components, including connecting systems, charging gun assemblies with sockets and accessories, bus bars, cell contact systems, power distribution units (PDU), and battery distribution units (BDU). Minda Corp stated that this collaboration would strengthen its product offerings in the rapidly growing EV industry, particularly in the area of Electrical Distribution Systems (EDS).

Aakash Minda, Executive Director of Minda Corporation, emphasized that the partnership would allow the company to offer advanced EV solutions across different vehicle segments, thereby increasing the overall value of its products. He also expressed a commitment to achieving successful localization, which would ultimately provide greater value to their customers.

Zhijian Zeng, Chairman of Sanco Connecting Technology, mentioned that the company selected Minda Corporation as a strategic partner to expand its global reach. He noted that this collaboration would significantly enhance Sanco's presence in India's growing EV market. Zeng also highlighted that by leveraging Minda Corporation's strong relationships with global automakers and its robust local production and engineering capabilities, Sanco aims to deliver high-quality, technology-driven solutions to Indian original equipment manufacturers (OEMs).

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