Flash Battery turnover rises by 54% in 2023

Flash Battery has announced its 2023 turnover reached 34 million euros, a 54% increase, cementing its position as a leading European lithium battery manufacturer for electric vehicles and industrial machines.

The significant growth in turnover compared to the previous year accompanied the rise in headcount to 108 at the end of 2023, an increase of 36.7%.

“In the first two months of 2024 the number of employees has already risen to 115. For us this is one of the most significant indicators of our growth in both the domestic and international markets,” said Marco Righi, co-founder in 2012 of Flash Battery and CEO of the company based in Sant'Ilario d'Enza, 

Flash Battery's 2023 turnover recorded substantial increases in international and domestic markets. “In Italy”, explained Righi, “the increase was 54%, with a value of 25.7 million euros, while in the more than 50 countries we export to we recorded growth of 46% and an export value of 8.6 million euros.

“The percentage of foreign turnover has risen from 21% to 25%, and in the coming years we will continue to invest heavily in an international expansion that is supported by important partnerships with powertrain system integrators in Germany, Benelux, the UK, Spain and France, with the aim of becoming one of the top players in the European market by 2025,” he said. 

To further this objective, Flash Battery has a strategic plan, calling for an investment of more than seven million euros in the short term.

"Since last year”, said Righi, “we have been significantly expanding our headquarters, which were inaugurated two and a half years ago, with a sharp increase in storage capacity and more importantly in the production line, which will allow us to manage a series of processes internally, starting with the assembly of the lithium modules of our batteries, making us independent with respect to foreign suppliers. At the same time, we’ll continue to invest in research, development and innovation, which are crucial to the reliability, competitiveness and sustainability of our products.”

Since 2012, the year in which Flash Battery was founded, the company has designed and produced more than 20,000 lithium batteries, created more than 650 different custom models and installed over 350 MWh in various industrial machinery and electric vehicle applications.

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