Uno Minda (formerly Minda Industries) is planning to invest Rs 175 crore towards capacity expansion of airbags, which is under a joint venture (JV) with TG Minda India. The proposed investment will be utilised in augmenting the capacity of TG Minda India’s unit in Rajasthan.

A proposed addition of 12,00,000 airbag units is expected from the current capacity of 18,00,000 units per annum at the Neemrana unit. The new capital outlay is in addition to the company’s ongoing expenditure plan involving Rs 16,644 crore.

The expansion mode is led by the mandate issued by the the Ministry of Road Transport & Highways regarding the six-airbag rule for passenger cars with effect from October 2023.

The company has also bagged Rs 300 crore worth of orders for EV-specific products only, which is part of the incremental orders received in Q3 FY23, taking the total peak annual value of all EV-specific components to Rs 800 crore.

TG Minda India is a JV between Toyoda Gosei and Uno Minda Group and is engaged in the manufacture of automotive safety systems, fuel caps, and weather-strip sealing parts.