Minda Corp acquires 49% of Flash Electronics for ₹1,372 crore. This strategic EV partnership aims to create a leading Indian EV platform by combining their strengths in automotive electronics.
New Delhi – Minda Corporation has announced a strategic partnership with Flash Electronics, a pioneer in electric powertrain solutions. This collaboration aims to create a leading EV platform in India by combining their expertise in body electronics and engine/powertrain electronics, respectively.
Synergistic Growth:
Flash Electronics, known for its innovative motor controllers and vehicle control units, has a strong track record in two- and three-wheeler EVs and is expanding into passenger cars and commercial vehicles. Minda Corp brings a portfolio of EV components including battery chargers, converters, and telematics. This partnership will leverage these strengths to offer a comprehensive range of EV solutions.
Strategic Investment:
Flash Electronics is poised for significant growth, with projected FY25 revenue exceeding ₹1,500 crore and a strong financial performance. Minda Corp will acquire a 49% stake in Flash Electronics for ₹1,372 crore, reflecting the strategic value of this collaboration.
Industry Impact:
The combined entity will showcase its advanced EV technologies at the upcoming Bharat Mobility Expo. This partnership is expected to drive innovation, create new job opportunities, and strengthen both companies’ positions in the rapidly evolving Indian automotive market.
Leadership Comments:
Minda Corp Chairman and Group CEO, Ashok Minda, expressed confidence in the partnership’s ability to create significant value for customers and shareholders. Sanjeev Vasdev, Managing Director of Flash Electronics, emphasized the partnership’s potential to set new industry standards and unlock new opportunities for both companies.
