In a major boost to India’s electric vehicle (EV) ecosystem, Minda Corporation Limited (NSE: MINDACORP, BSE: 538962), the flagship company of the Spark Minda Group, has announced a strategic partnership with Flash Electronics (India) Pvt. Ltd. The collaboration aims to create one of the fastest-growing EV platforms in the country, leveraging the unique strengths of both companies.
Minda Corporation specializes in automotive body electronics, while Flash Electronics focuses on engine and powertrain electronics. Together, the partnership will offer a diverse and synergized product portfolio, enhancing their ability to cater to the evolving needs of the automotive market.
Strategic Synergies for a Thriving EV Ecosystem
Flash Electronics, a pioneer in EV powertrain technology, is a market leader in components such as motors, motor controllers, and vehicle control units. The company is set to launch innovative powertrain solutions for passenger and commercial vehicles, further strengthening its position.
Meanwhile, Minda Corporation has developed a suite of EV-focused products, including battery chargers, DC-DC converters, power electronics, and battery telematics. This partnership is aligned with Minda’s long-term strategy to expand its presence as a comprehensive system solutions provider in the fast-growing Indian automotive segment.
Financial and Operational Highlights
As part of the agreement, Minda Corporation will acquire a 49% equity stake in Flash Electronics for INR 1,372 crore. Flash is expected to achieve a revenue of over ₹1,500 crore in FY25 while maintaining an EBITDA margin of 14% and a Return on Capital Employed (ROCE) exceeding 22%.
Industry Leaders Speak
Expressing his enthusiasm, Mr. Ashok Minda, Chairman and Group CEO of Minda Corporation, said:
“This partnership fits perfectly with Minda Corporation’s long-term vision of creating value for customers and shareholders. Together with Mr. Sanjeev Vasdev, we aim to take this collaboration to staggering heights, unlocking immense potential across technology and customer synergies.”
Mr. Sanjeev Vasdev, Managing Director of Flash Electronics, echoed similar sentiments:
“This partnership will catapult both companies to new heights. Collaborating with Ashok ji and his team, I believe we will set new benchmarks for the industry while creating opportunities for our employees through technology advancements.”
A Platform for Innovation
The partnership’s product and technology offerings will be showcased at the Bharat Mobility Expo 2025, being held in New Delhi from January 18-21, 2025. This platform will highlight their combined expertise in next-generation automotive solutions.