Minda Corp inks licensing pact with China's Sanco to tap EV market

New Delhi: Auto components maker Minda Corporation Ltd on Wednesday said it has signed a technology licensing agreement with China's Sanco Connecting Technology to offer electrical distribution systems solutions for the electric vehicles market.

Sanco Connecting Technology is a leader in EV connection systems.

Under the agreement, Minda Corp & Sanco will locally develop EV connecting systems, charging gun assemblies with sockets and accessories, bus bars, cell contact systems, power distribution units (PDU) and battery distribution units (BDU), the company said in a statement.

"This agreement will enhance the product portfolio offering of Minda Corporation in the growing EV industry in the areas of Electrical Distribution Systems (EDS)," it added.

Commenting on the partnership, Minda Corporation Executive Director Aakash Minda said, "By offering new-age EV solutions, we will enhance the overall kit value across vehicle segments, with a commitment to achieve successful localisation, delivering greater value for our customers." Sanco Connecting Technology (Guangdong) Co., Ltd Chairman Zhijian Zeng the company has chosen Minda Corporation as a strategic partner to expand its global footprint.

"This collaboration will significantly boost Sanco's presence in India's expanding EV market," Zeng added.

By leveraging Minda Corporation's strong relationships with global automakers and extensive local production and engineering capabilities, Zeng said, "We aim to deliver world-class, technology-backed solutions to Indian OEMs."