Minda picks up 26% in charging solution startup EVQPOINT

Minda picks up 26% in charging solution startup EVQPOINT

Minda Corp has entered into a definitive agreement for acquiring 26% equity stake in charging solutions startup EVQPOINT Solutions. The investment will be done through the company’s wholly owned subsidiary Spark Minda Green MobilitySolutions and will make the subsidiary EVQPOINT’s exclusive technology and manufacturing partner for battery chargers and EV supply equipment.
This strategic partnership will allow Spark Minda to capitalise on the accelerating shift to electric mobility and further bolster its position as a one-stop shop for comprehensive charging solutions for EVs including fast charging feature.

SparkMinda Group has been investing in new technologies for sustainable growth. It expects its partnership with EVQPOINT to strengthen the group’s EV Supply Equipment portfolio and offer battery chargers for both onboard and offboard configurations in the range of 250 W to 6.6 KW, with a roadmap for further range expansion.
The group would continue to build capabilities catering the entire EV value chain by developing future-ready product line, technologies and solutions, to harness the vast opportunity in electric mobility space in India, added Minda.

Disclaimer –
This document is meant for the recipient only for use as intended and not for circulation. This document should not be reproduced or copied or made available to others. The information contained herein is from the public domain or sources believed to be reliable. While reasonable care has been taken to ensure that information given is at the time believed to be fair and correct and opinions based thereupon are reasonable, due to the very nature of research it cannot be warranted or represented that it is accurate or complete and it should not be relied upon as such. Also above note is not a recommendation to Buy or SELL and is only a view based on facts and figures and we will be in no way responsible for any losses incurred by anyone who uses this information to either trade or invests securities mentioned herein.