Sona BLW enters China EV market, forms joint venture with Jinnaite Machinery
The new JV will focus on manufacturing and supplying driveline systems and components to automotive OEMs in China and around the world. Sona Comstar, or its wholly owned subsidiary, will invest $12 million and hold a 60% stake. JNT will hold the remaining 40% by contributing assets and existing business worth $8 million.
JNT is known for its advanced foundry operations and serves a wide customer base across the automotive, aviation, marine, and railway sectors. The JV is expected to begin operations in the second half of FY25 and is a key part of Sona Comstar's strategy to expand in markets like China, India, Japan, and South Korea.
The partnership combines Sona Comstar's strength in driveline technology with JNT's expertise in casting, molding, and strong local relationships—setting the stage for long-term growth.
Vivek Vikram Singh, MD & Group CEO of Sona Comstar, stated, 'I am excited to partner with JNT to establish a driveline manufacturing plant in China. This joint venture marks a significant step in our strategy to expand into the rapidly growing Asian markets. As the largest electric vehicle market in the world and a leader in EV technologies, China offers tremendous opportunities for innovation and growth. By leveraging the strengths of both partners, this venture is well-positioned for strong growth, and it has the potential to become a key supplier of driveline solutions for electric vehicles in the region. With a robust order book already in place, we expect operations to commence later this year.'
In the meantime, Sona BLW shares closed at ₹480.05 on Friday, down from the opening price of ₹486. The stock touched a high of ₹489 and a low of ₹473.40 during the day. Investors seem cautious as the stock remains far below its 52-week high of ₹768.65, though still above the 52-week low of ₹380.
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Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
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