Minda Corporation Limited (Minda Corp), the flagship company of Spark Minda Group, has announced a strategic partnership with Flash Electronics to establish a dynamic platform for the electric vehicle (EV) market in India.
The collaboration brings together Minda Corp’s expertise in automotive body electronics and Flash Electronics’ specialization in engine and powertrain electronics. By merging their complementary strengths, the partnership aims to offer a robust and diversified product portfolio for the evolving automotive market.
Synergies for a Growing EV Ecosystem
Flash Electronics has been a frontrunner in ignition electricals and electronics for two- and three-wheelers, including electric powertrains. It also leads in key EV components such as motors, motor controllers, and vehicle control units. The company plans to extend its innovative powertrain solutions to passenger cars and commercial vehicles soon.
Minda Corp has developed critical EV products, including battery chargers, DC-DC converters, power electronics, and battery telematics. This partnership aligns with its strategy to become a comprehensive systems solution provider in the auto components industry and to capture a larger share of India’s fast-growing EV market.
Investment and Financial Outlook
As part of the agreement, Minda Corp will acquire a 49% equity stake in Flash Electronics for ₹1,372 crore. Flash Electronics is projected to generate revenue exceeding ₹1,500 crore in FY 2025, with an impressive CAGR of 17% over recent years. The company maintains a strong EBITDA margin of 14% and a steady ROCE of 22%.
Showcasing Innovations at Bharat Mobility Expo
The products and technologies from this partnership will be on display at the Bharat Mobility Expo in New Delhi, from January 18 to 21, 2025. This collaboration aims to leverage the strengths of both companies, driving growth through shared technology and customer synergies.
Ashok Minda, Chairman and Group CEO of Minda Corporation, expressed enthusiasm about the partnership, emphasizing its strategic and financial alignment with the company’s long-term vision. Sanjeev Vasdev, Managing Director of Flash Electronics, highlighted the transformative potential of the collaboration and its role in setting new benchmarks for the industry.
Final Thoughts
This partnership between Minda Corporation and Flash Electronics signals a major leap forward for India’s EV ecosystem. By combining their expertise, both companies are poised to create innovative solutions that address the growing demand for sustainable transportation in the country.