Uno Minda signs licence agreement with StarCharge for EV equipment production in India

Automotive systems and solutions provider Uno Minda has signed a technical licence agreement with Starcharge Energy Pte Ltd to produce and sell Electric Vehicle supply equipment in India, the company announced on Friday.

Starcharge is a global manufacturer of electric vehicle supply equipment.

Uno Minda Ltd, formerly known as Minda Industries Ltd, informed the stock exchanges in a filing that the electrical vehicle supply equipment (EVSE) comprises wall-mounted AC chargers designed for convenient home charging.

These chargers provide ease of charging at home to customers and are usually sold along with EVs by the original equipment manufacturer (OEMs).

The partnership with StarCharge complements the EV-specific product portfolio of Uno Minda for the passenger car market, the company informed the stock exchanges.

The company mentioned that with the growing adoption of electric vehicles, the need for reliable and efficient EV charging solutions has become important.

Limited availability of public charging infrastructure is a drag on EV adoption.

According to the International Energy Agency (IEA), most EV charging demand has been met at home or at work globally and not by publicly accessible chargers.

The partnership would revolutionise home charging solutions paving the way for faster cleaner mobility adoption in India, Uno Minda said.

This partnership will also strengthen the company’s efforts to 'Make in India' and accelerate transition to a sustainable and electrified future, the OEM supplier said.

StarCharge is a global electric vehicle charging infrastructure and microgrid solutions provider. It operates in 67 countries and regions. It has manufacturing facilities in the US, Vietnam and China.

StarCharge has been a partner of more than 60 well-known OEMs and multiple renowned energy companies globally.

Uno Minda is Tier-1 Supplier of proprietary automotive systems and solutions to original equipment manufacturers.

The company is one of the leading manufacturers of automotive switching, acoustics, lighting and seating systems and alloy wheels in India. It manufactures and supplies over 20 categories of automotive components and systems to leading Indian and international OEMs based in India, Asia, South and North America and Europe.

Shares of Uno Minda Ltd closed 0.13% lower at ₹649 apiece on the NSE.