Minda picks up 26% in charging solution startup EVQPOINT via subsidiary

Deal will allow Spark Minda to capitalise on the shift to electric mobility and bolster its position as a one-stop shop for comprehensive charging solutions for EVs

Minda Corp has entered into a definitive agreement for acquiring 26 per cent 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 EVsupply 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, the company said in a statement.

“SparkMinda Group has been investing in new technologies for sustainable growth. Our partnership with EVQPOINT is meant 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,” AakashMinda, Executive Director, Minda Corporation, said.

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.