Turntide to expand high-voltage rail battery production at its Sunderland site. GlobeNewswire | Turntide Technologies Today at 7:00pm PDT Gateshead, U.K., July 22, 2026 (GLOBE NEWSWIRE) - Driven by demand from Hitachi Rail, following the recent production milestone, and the growth of hybrid rail operations globally, Turntide Technologies (Turntide) is expanding its high-voltage lithium-iron-phosphate (LFP) rail battery systems manufacturing line to the Turntide Sunderland facility. The high-voltage battery system enables hybrid and tri-mode trains to operate on both electrified and non-electrified rail lines while reducing fuel consumption and emissions. This LFP battery system allows for lower cost of operations, extended range, and a path to zero-emission travel, while reducing reliance on fossil fuels and improving air quality and noise pollution. It will be manufactured exclusively at the Sunderland location. This battery production is an advanced manufacturing milestone for Arriva's Grand Central new fleet, which is being built by Hitachi Rail in Newton Aycliffe, County Durham. "The global rail industry is moving quickly toward hybrid and tri-mode platforms as operators look for practical ways to reduce emissions, improve efficiency, and extend the reach of electrified rail networks," Steve Hornyak, CEO, Turntide, said. "Its continued collaboration with Hitachi Rail reflects the strength of this market demand and the confidence in Turntide's high-voltage LFP battery technology. "Expanding production at Sunderland gives us the capacity, capability, and operational focus to support this next phase of growth while helping accelerate cleaner, more flexible rail transportation." The Sunderland facility provides the manufacturing space and testing capabilities to support Turntide's growing production of LFP battery systems. Paul Turbitt, senior director of strategic operations at Turntide, will oversee the Sunderland facility and this manufacturing expansion. About Turntide Turntide Technologies designs and manufactures best-in-class electric motors, power electronics, and energy storage for anything that moves. Turntide Technologies operates in North America, the U.K., and India and serves customers in global markets and industries including off highway automotive, commercial vehicles, rail, marine, light vehicles, and premium automotive. Contact Info

* Equity * Mutual Fund * IPO * News 10-Mar-2026 10:34 Hrs IST Minda Corporation soars on signing JV agreement with Turntide to develop EV powertrain solutions. Minda Corporation is currently trading at Rs. 509.50, up by 12.15 points or 2.44% from its previous closing of Rs. 497.35 on the BSE. The scrip opened at Rs. 519.65 and has touched a high and low of Rs. 521.05 and Rs. 506.10 respectively. So far 7494 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 644.35 on 29-Sep-2025 and a 52 week low of Rs. 445.25 on 11-Aug-2025. Last one week high and low of the scrip stood at Rs. 535.65 and Rs. 493.00 respectively. The current market cap of the company is Rs. 12243.26 crore. The promoters holding in the company stood at 64.84%, while Institutions and Non-Institutions held 27.52% and 7.64% respectively. Minda Corporation (Minda Corp) has signed a Joint Venture (JV) agreement with Turntide Technologies (Turntide). Under the JV, Minda Corp through its wholly owned subsidiary - Spark Minda Green Mobility Systems will hold 49% stake, and Turntide will hold 51%. This venture will bring new generation powertrain solutions for the electric vehicle industry. The JV company will focus on the development and manufacturing of advanced new generation high and low-voltage motor controllers, high-voltage and high-performance electric motors, pumps for thermal applications, and other customised controllers tailored primarily for India's growing EV segment. This partnership aims to bring Turntide's advanced global technology closer to the Indian market and deliver localized, premium products suited to domestic requirements. India's EV market is expanding rapidly, driven by government initiatives and growing sustainable transportation solutions demand. The joint venture will leverage the combined strengths of Minda Corp and Turntide to accelerate the development cycles and strengthen the local supplier ecosystem for electric vehicles. The new venture aims to meet OEMs stringent performance and quality requirements while delivering cost advantages through local manufacturing and cutting-edge solutions. Minda Corporation is a diversified company with a product portfolio encompassing from Mechanical & Electronic Security System, Door System, Electronic Controllers for Electric Vehicles, Plastic Interiors and for Auto OEM's across the Globe.

Minda Corporation Limited subsidiary forms Joint Venture with Turntide Drives for EV powertrain solutions. Minda Corporation Limited announced that its wholly-owned subsidiary, Spark Minda Green Mobility Systems Private Limited (SMGM), has entered into a Joint Venture Agreement with UK-based Turntide Drives Limited, effective March 09, 2026. The JV aims to develop and manufacture advanced new generation motor controllers and axial flux motors primarily for India's growing EV segment. SMGM will hold 49% equity, with Turntide holding the majority stake of 51%. Strategic Joint Venture in electrification. Minda Corporation Limited has formalized a strategic Joint Venture Agreement through its subsidiary, Spark Minda Green Mobility Systems Private Limited (SMGM), with Turntide Drives Limited from the United Kingdom. This collaboration, announced on Monday, March 09, 2026, is designed to establish a new joint venture entity in India. Focus areas and technology transfer. The primary objective of the Joint Venture Company will be the development and manufacturing of cutting-edge components tailored for India's expanding Electric Vehicle (EV) market. These products include advanced new generation motor controllers, axial flux motors, and specialized pumps for thermal applications. Turntide will contribute crucial proprietary technologies and technical know-how to the JV for local development and manufacturing. Shareholding structure and governance. Upon finalization, the shareholding in the proposed JV company will be split as follows: SMGM (India) will hold 49%, and Turntide Drives Limited (UK) will hold 51%. Key operational terms include: * A mandatory three (3) year Lock-In Period during which neither party can transfer or create any encumbrance on their shares in the Joint Venture Company (JVC). * The Board of Directors for the JVC will consist of Five (5) Directors: two nominated by SMGM and three nominated by Turntide. Market rationale and leadership commentary. The partnership seeks to leverage Turntide's globally proven technology with Minda Corporation's strong local presence to deliver high-quality, cost-competitive EV powertrain solutions, aligning with 'Make in India' objectives and enhancing the domestic supply chain resilience. Mr. Ashok Minda, Chairman and Group CEO of Minda Corporation Limited, stated that this collaboration marks a significant milestone in their electrification journey. Mr. Steve Hornyak, CEO of Turntide Technologies, emphasized that this JV is a key step in bringing their powertrain technologies closer to Indian customers in the rapidly evolving mobility ecosystem. on March 9, 2026 CMS info Systems Limited acquisition of securens Systems Private Limited completed.