Now Reading: China Rules Put Uno Minda Inovance EV JV On Hold
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China Rules Put Uno Minda Inovance EV JV On Hold
Uno Minda’s proposed electric vehicle joint venture with China’s Inovance faces uncertainty after new Chinese rules tightened approval requirements for technology partnerships. The company said it has received approval in India, but…
The Story in Brief
Uno Minda’s proposed electric vehicle joint venture with China’s Inovance faces uncertainty after new Chinese rules tightened approval requirements for technology partnerships. The company said it has received approval in India, but the venture also needs clearance in China. Inovance is reviewing the revised guidelines and seeking clarification. Uno Minda expects greater clarity next quarter.
The company said its Indian expansion remains on schedule, with work continuing at two plants, including a planned facility in Chhatrapati Sambhaji Nagar. Imports of EV components from China, including e-axles, remain unaffected, it said. Uno Minda’s green mobility revenue rose 78% year on year to Rs 542 crore in the June quarter, about 10% of consolidated revenue.
The Indian Opinion
The easy story is that China-linked EV plans are collapsing, while the opposite claim is that regulatory friction has no practical cost. Neither is supported yet. Uno Minda has reported uninterrupted supplies and ongoing plant work, but the JV still lacks a clear Chinese approval path. The useful test is whether the venture receives the required clearance next quarter without altering its investment timeline or customer commitments.
Source: auto.economictimes.indiatimes.com
This story was synthesised by AI from the source linked above.
