Minda Corporation will have a majority stake in the newly-formed venture with an investment in the agreed shareholding ratio of 60:40. The joint venture has already secured initial orders from customers in India and will establish a greenfield manufacturing plant in Noida, Uttar Pradesh. The facility is expected to begin operations in the second-half of FY27.
“Toyodenso is a global Japanese company with a rich legacy of technological innovation,” said Ashok Minda, Chairman & Group CEO of Minda Corporation. “This partnership marks a pivotal milestone in our journey to drive smart mobility solutions while fostering indigenous manufacturing by integrating globally-recognized technologies into India’s automotive ecosystem,” he added.
Under the partnership, the two companies will provide end-to-end solutions—ranging from design and development to manufacturing and marketing—of automotive switches for two-wheelers, passenger cars and other vehicle segments for the Indian market.
This collaboration is aimed at addressing the growing demand for advanced switching technologies in India’s automotive sector. It also aligns with Minda Corporation’s strategy of enhancing its product portfolio and promoting localization of technology.
Through the joint venture, Toyodenso will bring advanced engineering and technological capabilities. Minda Corporation will leverage its expertise in localised manufacturing and its established supply chain network.
Kiyoshi Koide, President of Toyodenso Co., Ltd., said: “Toyodenso aims to stabilise its business base and will work with SPARK MINDA to develop the Indian market to focus on the manufacturing and sales of automotive parts in India, which is a growing market.”