Auto parts manufacturer Minda Corp To Acquire 49% in Flash Electronics

Auto parts manufacturer Minda Corporation announced it will acquire 49 percent share in Flash Electronics for Rs 1,372 crore. The collaboration aims to enhance the product lines of both firms, utilizing their current portfolios to develop an extensive array of EV solutions, the company indicated in a statement.

"This partnership fits perfectly, strategically and financially in the company's long-term vision of creating value for customers and shareholders," Minda Corporation Chairman & Group CEO Ashok Minda said.

Both firms possess a varied, yet complementary, range of products, with Minda Corporation focusing on automotive body electronics and Flash specializing in automotive engine and powertrain electronics. Minda Corporation stated that this collaboration will establish a synergistic and extensive portfolio for both partners.

"I am confident that this partnership will catapult both the companies to a different level," Flash Electronics Managing Director Sanjeev Vasdev said.

Among the initial players in the EV powertrain sector, Flash stands out as a top contender for motors, motor controllers, vehicle control units, and more. The company has created cutting-edge solutions for the electric powertrain and will soon introduce these for passenger cars and commercial vehicles.