Minda Corporation Limited (Minda Corp), the flagship company of the Spark Minda Group, has formed a strategic partnership with Flash Electronics. This collaboration aims to establish the fastest-growing EV platform in India. As of 11:30 AM on January 15, 2025, Minda Corp’s share price surged by 5%.
Minda Corp, known for its expertise in automotive body electronics, will combine forces with Flash Electronics, a leader in engine and powertrain electronics. This alliance will bring together a diversified and complementary product portfolio, promising significant synergies across technology, customer reach, and innovation.
Flash Electronics, an early entrant in EV powertrain solutions, has been a pioneer in developing motors, motor controllers, and vehicle control units. The company is preparing to launch innovative solutions for passenger cars and commercial vehicles. On the other hand, Minda Corp has established itself in EV products such as battery chargers, DC-DC converters, and telematics. Together, the companies aim to provide comprehensive systems solutions for the growing EV market in India.
As part of the partnership, Minda Corporation will acquire a 49% equity stake in Flash Electronics for ₹1,372 crore. Flash Electronics, with an impressive CAGR of 17% and projected revenue of ₹1,500 crore for FY25, brings a steady EBITDA margin of 14% and a return on capital employed (ROCE) exceeding 22%.
The partnership aligns with Minda Corp’s long-term strategy to strengthen its foothold in the fast-evolving automotive segment. The collaboration is expected to set new benchmarks in the industry, creating additional opportunities for both organisations through advancements in technology and shared expertise.
Both companies will showcase their combined innovations and technological advancements at the Bharat Mobility Expo, scheduled to take place in New Delhi from January 18-21, 2025. This event will highlight their commitment to revolutionising the EV space in India.
Minda Corporation is a leading automotive component manufacturer, offering a wide range of mechatronics and connected systems. With a strong domestic and international presence, the company has been a pioneer in providing high-quality, technology-driven solutions to original equipment manufacturers (OEMs).
Founded in 1989, Flash Electronics has carved a niche in the automotive electrical solutions market. With eight manufacturing plants globally and three R&D centres, the company is dedicated to innovation and sustainability, serving both domestic and international automotive markets.
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Published on: Jan 15, 2025, 3:43 PM IST
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