Minda Corp surges after forming partnership with Flash Electronics

Minda Corporation jumped 4.74% to Rs 567.5 after the company said that it has entered into a partnership agreement with Flash Electronics to create the fastest growing EV platform in the country.

Both companies have a diversified, yet synergized, product portfolio where Minda Corporation is into Automotive body electronics and Flash is in automotive Engine and Powertrain electronics.

"This partnership going forward will create a synergetic and wide portfolio for both partners, the company stated.

Flash has been at the forefront in electricals and electronics for two and three-wheeler ICE specialising in ignition electricals and electronics.

Being among the early entrants in the field of EV powertrain, Flash is among the market leaders for motor, motor controllers, vehicle control units, etc. Flash has developed innovative solutions for electric powertrain, and would be soon launching the same for passenger cars and commercial vehicles.

On the EV Side, MCL has developed products like battery chargers, DC-DC converters, power electronics products, battery telematics, etc.

"This move aligns with Minda Corporations long-term business strategy aimed at expanding our presence in the auto components industry as a complete systems solution provider and capturing a greater share of the fast-growing automotive segment in India," the company further said.

Minda Corporation is one of the leading automotive component manufacturing companies in India with a pan India presence and significant international footprint. It is the flagship company of Spark Minda, which was part of the erstwhile Minda Group. The company has a diversified customer base including Indian and global original equipment manufacturers and Tier-1 customers.

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