Sona Comstar joins hands with China JNT to roll out a driveline systems venture, increasing its business presence in EVs in Asia and in the world.

Sona BLW Precision Forgings has already reached into a business joint venture with Jinnaite Machinery Co. (JNT) of China by entering into a binding agreement. The new company will produce and provide driveline systems to motor car manufacturers in China and internationally, as stated in a filing filed to the stock exchange.

According to the agreement, Sona Comstar will invest 12 million dollars; in the first phase, JNT will invest 8 million dollars’ worth of assets, and business operations are to be injected. The venture is supposed to open business in the second quarter of the ongoing financial year, enhancing the business growth of Sona Comstar in the electric vehicle (EV) segment.

This is a well-calculated business decision that resonates with the interest of Sona Comstar to make further penetrations into Asia, particularly in China, India, Japan, and South Korea. It is also against the acquisition of more market share in Europe and North America.

JNT has a solid business line-up, which consists of 63 patents, high-tech casting, and a broad range of customers in the automotive and railway industries.

Vivek Vikram Singh, the MD and Group CEO of Sona Comstar, stated that the JV is well-positioned to seize the vast EV business opportunities in China and meet the needs of international clients.