Corporation Limited (MCL) entered into a definitive agreement for acquiring a
26% equity stake in charging solutions start-up EVQPOINT Solutions through its
100% subsidiary Spark Minda Green Mobility Solutions.
investment, Spark Minda Group will become the exclusive technology and
manufacturing partner for battery chargers and EV supply equipment for
EVQPOINT. The partnership will let Spark Minda boost its position as a
one-stop-shop for comprehensive charging solutions for EVs, including the
Executive Director, Minda Corporation, said that the collaboration
with EVQPOINT would strengthen the Minda group’s EV Supply Equipment [EVSE]
portfolio. It would also offer battery chargers for onboard and offboard
configurations in the expandable range of 250 W to 6.6 KW.
Babu, CEO and Co-Founder of EVQPOINT, expressed his happiness in partnering
with Spark Minda. He said EVQPOINT was laying the foundation to assume a
leadership position in the rapidly-growing EV charging ecosystem through this
Spark Minda is a
leading Indian Tier-1 automotive parts brand that has established itself as a
provider of quality technology and solutions to OEMs. It has a diversified
product portfolio of mechatronics, information and connected systems, plastics,
interior and electronics which cater to 2 and 3-wheelers, passenger vehicles,
commercial vehicles, off-roaders and aftermarket segments.
Source – ET Auto
Image Source: Spark Minda Website