Flash Electronics India entered the two-wheeler and four-wheeler gear market in 2014 with an investment of Rs. 40 crore to set up a new plant.

New Delhi:Flash, Pune-based auto component maker Electronics India Private Equity Fund DMII has raised Rs 20 crore from private equity fund Start Finance for expanding its business.

The company said the fund will be utilized for upgrading products, setting up production lines and expanding the gearing business to move to BS VI emission standards. With this investment, Flash Electronics India expects to more than double its revenue to Rs 2,001 crore in the next 24 a month. The company’s annual revenue for 2018-19 is Rs 9 billion.

Vasudev, Managing Director, Flash Electronics Sanjevia, said, “Currently, 65-70% of our revenue comes from electrical and electronic components. But now we have developed a complete solution for electric vehicles including motors, converters and charging equipment. For the last three years, we have been working with a Swiss company.

Vasudev said that while the EV market in India is still in its infancy, he expects EVs to grow significantly by 2025 and the company expects the EV solutions business to generate 10-15% of its value.

At the same time, the company will invest in the production of fuel injection systems for two vehicles and the wheels required to transition to the BS VI emissions standard from April 2020 onwards. The company will also utilize additional resources to strengthen the operations of its gears business.

Flash Electronics India entered the two-wheeler and four-wheeler gear market in 2014 with an investment of Rs. 40 crore to set up a new plant.

The first plant year 2016 became operational and the second plant became operational two months ago.

The company supplies components to Bajaj Auto, Yamaha Motor India, Suzuki Motorcycle India and Jawa Motorcycles among others. Global customers including BMW, Harley-Davidson Motor Company, Ducati Motor Holdings and Triumph. In October 2015, Power System expanded its German operations through the acquisition of Bing Germany.