Sanmina Partners on Scooter Charging, Eyes $647B Automotive Electronics Market
Sanmina produces ECUs and power systems in IATF 16949-certified plants and is partnering on charging systems for Ather's S340 scooter in a market set to reach $647.43B by 2034. Shares have climbed 62.7%, trade at 13.45x forward earnings versus 22.97x industry and reflect a 2026 EPS upgrade to $10.06.
1. Automotive Electronics Platform
Sanmina provides advanced designs, manufacturing and testing for engine control units, body controllers, meter clusters, climate control modules, park-assist systems, LED lighting, infotainment systems, ADAS sensors and EV power management subsystems through IATF 16949-certified facilities worldwide.
2. Ather Energy Collaboration
The company has teamed with Ather Energy to develop and produce charging systems and battery management modules for the S340 electric scooter, expanding its foothold in two-wheeler electrification and leveraging its EMS expertise in a growing EV segment.
3. Market Growth Forecast
With the global automotive electronics market projected to reach $647.43 billion by 2034 at an 8.62% CAGR, Sanmina’s end-to-end EMS capabilities and certifications position it to capture increasing OEM demand for connected, autonomous and electrified vehicle systems.
4. Stock Performance and Valuation
Shares have climbed 62.7% versus a 71.9% industry gain and trade at 13.45x forward earnings compared with a 22.97x peer average, while 2026 EPS forecasts have been raised to $10.06, reflecting improved profitability outlook.