Minda Corporation Limited (Minda Corp) has announced a strategic partnership with Flash Electronics. The collaboration aims to create the country’s fastest-growing electric vehicle (EV) platform by leveraging the complementary expertise of both companies.
Minda Corporation specialises in automotive body electronics, while Flash Electronics leads in engine and powertrain electronics. The partnership will combine their diversified product portfolios to develop a comprehensive range of solutions for the automotive and EV sectors. Minda Corp’s innovations in battery chargers, DC-DC converters, and power electronics products will complement Flash’s established leadership in motor controllers, vehicle control units, and other electric powertrain technologies. Flash is also set to expand its EV solutions to passenger cars and commercial vehicles, aligning with Minda Corp’s long-term strategy to become a complete systems solution provider in the automotive industry.
This move is expected to bolster both companies’ positions in the rapidly growing EV market and unlock synergies across products, technologies, and customer bases. Flash Electronics, with an impressive revenue forecast of over INR 1,500 crore for FY 2025 and a history of delivering a 17% CAGR, will bring significant operational and financial strength to the partnership. The company is also expected to achieve an EBITDA margin of 14% and maintain a steady ROCE of over 22%.
The partnership will be showcased at the Bharat Mobility Expo in New Delhi from 18 to 21 January 2025, providing a platform to highlight their combined capabilities and innovative technologies.
Ashok Minda, Chairman and Group CEO, Minda Corporation, stated “This partnership is a perfect fit strategically and financially for Minda Corporation’s long-term vision. Together with Flash Electronics, we aim to redefine industry benchmarks and deliver greater value to our customers and shareholders.”
Sanjeev Vasdev, Managing Director, Flash Electronics, noted that the partnership would not only advance technological innovation but also create opportunities for employees across both organisations.
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