Sona Comstar Enters Chinese EV Market Through $12 Million Joint Venture
Auto components manufacturer Sona BLW Precision Forgings Ltd (Sona Comstar) is entering the Chinese electric vehicle market through a new joint venture with Jinnaite Machinery. With an investment of $12 million, Sona Comstar will hold a 60% stake in the venture, which aims to begin operations in H2 FY26.
- Country:
- India
Sona BLW Precision Forgings Ltd, known as Sona Comstar, announced its bold entry into the Chinese electric vehicle sector through a strategic alliance with Jinnaite Machinery. The partnership involves an initial investment of USD 12 million from Sona Comstar, which will secure a 60% stake in the newly formed joint venture.
The collaboration will focus on the production and supply of driveline systems for both electric and non-electric vehicle original equipment manufacturers (OEMs) in China and worldwide. Significantly, Sona Comstar positions itself as a major player in what is currently the globe's largest automotive market. The company plans to kick off the joint venture operations in the latter half of the fiscal year 2026.
China's booming electric vehicle market accounted for two-thirds of global EV sales in 2024, reflecting its prominence and growth potential. By joining forces with Jinnaite Machinery, Sona Comstar aims to capitalize on the opportunities presented by this dynamic market environment, leveraging its strength in precision forging and Jinnaite's casting expertise.
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