UNO Minda Ltd - Announcement under Regulation 30 (LODR)-Joint Venture

The Board approved to enter into joint venture agreement with Buehler Motor GmbH ('BUEHLER'), a leading global supplier of customized mechatronic drive solutions, and accordingly to make a joint venture company ('JV Company') with BUEHLER to develop, manufacture and market traction motors in India and other SAARC nations. The JV will offer traction motors for battery driven EV (Electric Vehicle) 2 wheelers and 3 wheelers. Board approved to make equity investment upto INR 17 Crore from time to time in one or more tranches for 50.1% stake in the proposed JV Company in India. The JV Company will be a subsidiary of Uno Minda Limited. The total capital expenditure to be incurred over the period of six years in the proposed JV Company would be Rs. 110 Crore (Approx.).