Uno Minda boosts EV focus, fully acquires Buehler Motor JV

Uno Minda's board of directors has approved the acquisition of the remaining 49.90% equity stake in Uno Minda Buehler Motor Private Limited (UMBM) from joint venture partner Buehler Motor GmbH, Germany, for INR 10,64,367. This move will make UMBM a wholly-owned subsidiary, with UMBM also entering into an amended and restated technical license agreement with Buehler. The acquisition follows the termination of the existing joint venture agreement between Uno Minda Limited and Buehler. UMBM, incorporated on December 12, 2022, specializes in traction motors for electrified two and three-wheelers, with a turnover of INR 516.13 lakhs for FY2024-25. The acquisition is expected to be completed by Q4 FY26.

Concurrently, Uno Minda will further invest up to INR 40 crores in its wholly-owned subsidiary, UnoMinda EV Systems Pvt. Ltd. (UMEVS), to support its working capital requirements. UMEVS, incorporated on December 16, 2021, manufactures EV-specific components and systems for electric 2W and 3W vehicles, reporting a turnover of INR 38,198.23 lakhs for FY2024-25. This investment is projected to be completed by Q1 FY27.

Separately, the nomination & remuneration committee approved the allotment of 199,260 equity shares under the Uno Minda Employee Stock Option Scheme, 2019. This allotment increases the company's paid-up equity share capital from INR 115,35,41,166 to INR 115,39,39,686.