Minda Corporation Ltd, the flagship firm of the Spark Minda Group, has partnered with Flash Electronics to create what is being touted as India’s fastest-growing electric vehicle (EV) platform. This collaboration merges Minda Corporation’s expertise in automotive body electronics with Flash Electronics’ specialization in engine and powertrain technologies.
The alliance aims to broaden the product portfolios of both companies, focusing on comprehensive EV solutions. Minda Corporation has been developing key products such as battery chargers, DC-DC converters, and power electronics, while Flash Electronics specializes in electric powertrain components, including motors, motor controllers, and vehicle control units. Flash Electronics has also announced plans to expand into electric powertrains for passenger and commercial vehicles soon.
As part of this partnership, Minda Corporation will acquire a 49% equity stake in Flash Electronics for ₹1,372 crore. Flash Electronics, which has demonstrated a compound annual growth rate (CAGR) of over 17%, is expected to surpass ₹1,500 crore in revenue for FY 2025. The company also maintains an EBITDA margin of approximately 14% and a return on capital employed (ROCE) exceeding 22%.
This strategic move comes at a time when the automotive sector is increasingly prioritizing electrification, driven by supportive government policies and rising demand for eco-friendly mobility solutions. Both companies plan to showcase their collaborative technologies and products at the Bharat Mobility Expo, set to take place in New Delhi from January 18-21, 2025. Spark Minda is a leading manufacturer of aluminum and zinc die-cast components, serving both automotive and non-automotive sectors across India.
Flash Electronics is a prominent player in the field of engine and powertrain electronics, specializing in advanced solutions for electric vehicles (EVs). The company’s portfolio includes motors, motor controllers, and vehicle control units, with a strong focus on efficiency and performance.
Flash Electronics has built a reputation for delivering cutting-edge technologies to the automotive industry, supporting both passenger and commercial vehicle segments. With plans to expand its electric powertrain solutions, the company is poised to play a significant role in the EV revolution. Backed by robust growth, strong financial metrics, and a commitment to sustainability, Flash Electronics continues to push the boundaries of automotive innovation.
Minda Corporation Ltd, the flagship company of the Spark Minda Group, is a leading manufacturer of automotive components and systems. Known for its expertise in automotive body electronics, safety, security systems, and interior parts, the company has a strong presence in India and abroad.
Minda Corporation caters to a wide range of automotive segments, including two-wheelers, passenger vehicles, and commercial vehicles. The company has been proactive in embracing technological advancements, focusing on electric vehicle (EV) components such as battery chargers and power electronics. With a commitment to innovation, sustainability, and quality, Minda Corporation continues to drive the future of mobility.
