BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Axis Securities Report
Minda Industries Ltd. announced new investments for electric vehicle products and expansion of alloy wheel capacity (both passenger vehicle and two-wheeler alloy wheels) in line with its growth plans.
To meet these objectives, the company plans to form a joint venture in India with FRIWO AG (German manufacturer of power supply units and e-drive solutions) for EV products.
Minda Industries will invest Rs 71 crore in the JV over the next three years for a 50.1% stake and €15 million in FRIWO AG, Germany for a 5.24% stake (all two-wheeler and three-wheeler electric products to be housed under the JV moving forward).
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