E-mobility Joint Venture in India Advances, Explores Southeast Asia Markets

The joint venture between FRIWO and UNO MINDA Group in India is accelerating. Mass production started in 2023 at the facility south of New Delhi. Six of the world's largest two- and three-wheeler manufacturers are customers. Talks are ongoing about orders that could increase sales significantly. An expansion of the production facility has already been discussed.

A new Indian government program, FAME III, is expected to promote electric vehicles with a budget of almost 100 billion Indian rupees. FRIWO anticipates a significant rise in license and investment income from the joint venture. This increase is expected as the company's technological expertise in electric drive systems is integrated.

FRIWO is also in promising discussions with potential partners in Indonesia and Vietnam. These partnerships could be significant, although revenue from these ventures is not expected until at least 2026. FRIWO aims to leverage its successful Indian joint venture to expand into these markets.