Rs 1000000000 deal! This Indian company has entered China's electric car market, what's its connection with Karishma Kapoor? what does it do?
According to the company's statement, Sona Comstar has signed a binding term sheet with Jinnaite Machinery Co Ltd (JNT) to set up a joint venture entity in China. Sona Comstar JV With JNT
Sona Comstar will invest USD 12 million and have a 60 per cent stake, while JNT will contribute USD 8 million in assets and business to the joint venture in the first phase, it added.
The JV will start operations in H2 FY26 to fulfil existing orders from EV and non-EV customers, marking a significant milestone in Sona Comstar's expansion into the Chinese EV market.
It will manufacture and supply driveline systems and components to automotive OEMs in China and globally, the company said.
Sona Comstar is the largest supplier of differential assemblies for battery electric vehicles (BEVs) in North America and ranks among the top suppliers in Europe.
'The driveline manufacturing operations in China align with the company's strategy to expand its presence in Asian markets, particularly in India, China, Japan, and South Korea, while also working to increase its market share further in North America and Europe,' the statement said. How Does Sona Comstar Link To Karishma Kapoor?
Karishma Kapoor and Sanjay Kapur were married in 2003 and divorced in 2016. They have two children, Samaira and Kiaan. Karishma Kapoor's past connection to Sona Comstar comes from her children's father, Sanjay Kapur, who is the former chairman of the company.
Sona Comstar is already a global company and also operates in India, the US, and Mexico. This new joint venture will help the company to improve its global footprint.
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