Minda Corporation Ltd, Spark Mind’s flagship company, has received a major order from a leading two-wheeler original equipment manufacturer (OEM) in India to produce smart key systems.

The company announced on February 12 that it is partnering with a Japanese company to produce these smart vehicle access control systems. However, the company did not disclose the names of global Japanese companies with which it has formed a strategic alliance. Spark Minda’s Pune plant will manufacture the products, according to stock exchange filings.

The first phase of the collaboration focuses on manufacturing and highlights Spark Minda’s commitment to delivering customized solutions powered by advanced technologies to improve user experience and comfort. The partnership will solidify the company’s position as a leading innovative organization in the vehicle access space and meet the growing customer demand for high-end products. According to CNBC, these exchanges were notified by Minda Corporation.

“This important partnership and major order win underscores our commitment to Make in India and becoming a global leader in vehicle access solutions. We will continue to push boundaries and expand our product and technology offerings,” the Aakash Minda, executive director of the company, said the company was quoted as saying by the Financial Express.

Minda Corporation Ltd sold 15.07 per cent stake in Pricol Ltd for about Rs 631 crore in open market transactions last month. Following the transaction, Minda Corporation’s ownership position in the business fell to 0.63% from 15.70% at the end of the December quarter. In February 2023, Minda Corp purchased Rs 191 crore of shares, or 15.7% of Pricol’s total share capital, at Rs 209 per share for a price of Rs 400 crore.

Minda Corp clarified that their investment in Pricol was purely financial; they were not given any special rights other than those of typical shareholders, which was initially interpreted as a takeover attempt. CNBC added that as of 11:09 am, shares of Minda Corp fell 0.76% to Rs 396.55 per share on the Bombay Stock Exchange (BSE).

Minda Corporation is India’s leading automotive component manufacturer with operations across the country and a significant international presence. The company was founded in 1985. Minda Corporation is the flagship company of Spark Minda, formerly known as Minda Group.