Minda Corporation announced the incorporation of a joint venture company in the name and style of Spark Minda Turntide. The company's wholly owned subsidiary, Spark Minda Green Mobility Systems holds 49% stake in the new joint venture while 51% stake is held by Turntide Drives , United Kingdom. The venture will engage in the development and manufacturing of advanced new generation motor controllers, axial flux motors, pumps for thermal applications , and other customized controllers tailored primarily for India's growing EV segment including any activities reasonably incidental or ancillary thereto.