Spark Minda Green Mobility Systems Pvt Ltd (SMGM) has signed a joint venture agreement with Turntide Technologies to develop and manufacture next-generation powertrain solutions for the electric vehicle industry.
Under the agreement, SMGM, the wholly owned subsidiary of Minda Corporation Ltd, will hold a 49% in the new venture, while the UK-based Turntide will own the remaining 51%.
The joint venture will focus on the development and manufacturing of advanced high- and low-voltage motor controllers, high-voltage and high-performance electric motors, pumps for thermal applications, and other customised controllers designed primarily for India’s rapidly growing EV segment.
The partnership is aimed at bringing Turntide’s advanced global technology closer to the Indian market while delivering localised, premium products suited to domestic requirements.
The collaboration also seeks to support the increasing demand for efficient and high-performance powertrain systems as India accelerates its transition towards electric mobility.
India’s EV market is expanding at a rapid pace, driven by supportive government policies, incentives for electric mobility, and a rising preference for sustainable transportation solutions.
As automakers increase their EV offerings, the need for high-quality, locally manufactured components is also growing.
The new venture will leverage the combined strengths of Minda Corporation’s strong domestic manufacturing presence and Turntide’s global expertise in electrification technologies.
The partners aim to accelerate product development cycles and strengthen the local supplier ecosystem for electric vehicles.
The JV is also expected to help original equipment manufacturers (OEMs) meet stringent performance and quality requirements while offering cost advantages through local manufacturing and advanced engineering solutions.
Minda Corporation Chairman and Group CEO Ashok Minda said the partnership would combine global technology with strong domestic manufacturing capabilities.
“By combining Turntide’s globally proven technology with Minda Corp’s strong local presence, we aim to deliver advanced, high-quality and cost-competitive EV powertrain solutions that support India’s transition to sustainable mobility. This will help meet ‘Make in India’ objectives and enhance the resilience of the domestic EV ecosystem supply chain,” he said.
Turntide Technologies CEO Steve Hornyak said India’s rapid electrification makes it a strategic market for the company.
“India’s electrification growth story is central to Turntide’s strategy, and this joint venture is a key step in bringing our powertrain technologies closer to customers in the market. We are proud to partner with Minda Corporation, a team with decades of experience serving global OEMs, as we deliver localized, high-performance solutions for India’s rapidly evolving mobility ecosystem,” he said.
Turntide designs and manufactures electric motors, power electronics, energy storage and thermal management equipment used in mobility and industrial applications.
The company operates in North America, the United Kingdom and India, serving customers across sectors including off-highway vehicles, commercial vehicles, rail, marine, light vehicles and premium automotive segments.