Minda Corporation Ltd, the flagship company of the Spark Minda Group, has joined forces with Flash Electronics to establish what is being heralded as India’s fastest-growing electric vehicle (EV) platform. This strategic partnership leverages Minda Corporation’s strength in automotive body electronics and Flash Electronics’ expertise in engine and powertrain technologies, positioning both companies as key players in the rapidly evolving EV market.
Key Highlights of the Partnership:
- Broadened Product Portfolios:
- Minda Corporation: Focus on EV components, including battery chargers, DC-DC converters, and power electronics.
- Flash Electronics: Specializes in electric powertrain solutions, such as motors, motor controllers, and vehicle control units (VCUs).
- Flash Electronics has announced plans to extend its portfolio to electric powertrains for passenger and commercial vehicles.
- Equity Stake Acquisition:
- Minda Corporation will acquire a 49% equity stake in Flash Electronics for ₹1,372 crore.
- Flash Electronics has demonstrated strong financial performance, with a CAGR of over 17%, projected revenue exceeding ₹1,500 crore in FY 2025, an EBITDA margin of ~14%, and a ROCE of more than 22%.
- Future Collaboration:
- Both companies aim to deliver integrated EV solutions that enhance efficiency and performance.
- Their combined offerings will cater to growing demand driven by supportive government policies and the push for eco-friendly mobility.
- Industry Engagement:
- The partnership’s technologies and products will be showcased at the Bharat Mobility Expo in New Delhi, from January 18-21, 2025.
Companies at a Glance:
- Minda Corporation Ltd:
- A leading manufacturer of automotive components and systems with expertise in body electronics, safety and security systems, and EV-specific technologies.
- Operates across multiple segments, including two-wheelers, passenger vehicles, and commercial vehicles, with a strong presence in domestic and international markets.
- Flash Electronics:
- A key innovator in engine and powertrain electronics, with a focus on electric vehicle solutions.
- Recognized for advanced technologies that cater to both passenger and commercial EV segments, supported by robust growth and financial metrics.
Strategic Implications:
This collaboration aligns with the automotive sector’s shift toward electrification, addressing the rising need for sustainable and advanced mobility solutions. By combining their expertise and resources, Minda Corporation and Flash Electronics aim to accelerate the adoption of EV technologies in India and beyond.
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