New Delhi: Minda Corporation has entered into a strategic partnership with Flash Electronics, acquiring a 49% equity stake in the company for ₹1,372 crore. The collaboration aims to create a robust electric vehicle (EV) platform by combining the strengths of both firms in automotive electronics.
Minda Corporation specializes in automotive body electronics, while Flash Electronics focuses on engine and powertrain electronics, including motor controllers, vehicle control units, and ignition electricals for two- and three-wheelers. Both companies plan to leverage their complementary expertise to develop innovative solutions for EV powertrains, battery systems, and other critical components.
Focus on Expanding Product Portfolio
Flash Electronics has been an early entrant in EV powertrain technology and plans to expand its offerings to passenger cars and commercial vehicles. Similarly, Minda Corporation has developed EV-specific products like battery chargers, DC-DC converters, power electronics, and telematics systems. This partnership aligns with Minda’s strategy to become a comprehensive systems solution provider in the automotive sector.
Projected Growth and Financial Outlook
Flash Electronics is projected to achieve ₹1,500 crore in revenue in FY25, with an EBITDA margin of approximately 14% and a return on capital employed (ROCE) exceeding 22%. The partnership is expected to unlock synergies across product lines, technology, and customer bases, positioning both companies for long-term growth in the EV segment.
Showcasing Innovations at Bharat Mobility Expo
The joint products and technologies will be showcased at the Bharat Mobility Expo in New Delhi from January 18-21, 2025, reflecting the companies’ commitment to advancing India’s EV ecosystem.
This collaboration marks a significant step for both Minda Corporation and Flash Electronics in capturing a larger share of the rapidly growing EV market in India.
