Indian Flash will invest USD 18 million in the production of electric drives of the Polish Elimen

Indian Flash plans to invest USD 18 million in production lines where electric motors designed by the Polish startup Elimen are to be implemented from the beginning of 2024, Flash president Sanjeev Vasdev has announced.

“We plan to invest USD 18 million in new lines for the production of electric drives by Elimen. We assume that production will start from the beginning of 2024. It will be possible to produce several models at the same time. We want to start with drives for electric buses and motorbikes first. Next, potentially, will be solutions for passenger cars. Until the start of production, we will financially support the Polish company in the project by project model. We are in talks with 4 bike brands for the supply of future drives,” Vasdev told reporters.

Elimen Group - a Polish startup supported by the Assay Group, creating electric drives - has concluded a cooperation agreement with Flash, which is the leader of the Indian sector of the production of electric parts for 2- and 3-wheel vehicles. The cooperation will cover the design and production of motors and controllers with a power of up to 300 kW for all segments of electric vehicles, from 2- and 3-wheel vehicles, through passenger and commercial vehicles, to electric buses.

Elimen Group is a Polish startup created from a team of designers, constructors and managers with many years of experience in the electrotechnical industry. The company specializes in designing, creating and testing advanced electric drives. Substantive and financial support for the company's development is provided by Assay Group, an independent investment fund with experience in the field of venture capital.

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