Minda Corporation Limited has signed a joint venture agreement with Japan-based Toyodenso Co. Ltd. to produce automotive switches for the Indian market. Under the partnership, Minda will hold a 60% majority stake, while Toyodenso will own 40%.
The joint venture will handle the design, development, manufacturing, and marketing of automotive switches catering to two-wheelers, passenger vehicles, and other automotive segments. A new greenfield manufacturing facility is planned in Noida, Uttar Pradesh, with operations slated to commence in the second half of FY 2026-27.
The new joint venture has already secured orders from Indian customers, as announced on June 11, 2025. This strategic partnership aims to meet the rising demand for automotive switches amid the rapid growth of India’s automotive sector.
As part of the collaboration, Toyodenso will bring in its advanced technological expertise and engineering know-how, while Minda Corporation will leverage its strong manufacturing capabilities and supply chain network. The venture supports the broader industry push towards localization of components and technology in India.
Ashok Minda, Chairman and Group CEO of Minda Corporation, called the partnership a significant step toward advancing smart mobility solutions and boosting domestic manufacturing. Toyodenso President Kiyoshi Koide noted that the alliance would contribute to developing India’s automotive parts manufacturing and sales ecosystem.
Minda Corporation, the flagship of Spark Minda Group, manufactures vehicle access systems, electrical systems, die-casting products, and electronics for OEMs across vehicle segments, with operations in India and abroad. Toyodenso, a Tokyo-based company founded in 1947, produces automotive and power products and supplies global brands like Honda and Toyota, with facilities across six countries. Their new joint venture marks Minda’s move to expand its product portfolio via global partnerships and gives Toyodenso strategic entry into India’s growing automotive market, driven by rising domestic demand and manufacturing.
