Gurugram, Jul 20 (INB) Public company Sona BLW Precision Forgings has entered the China EV market with a USD 20 million joint venture with China’s Jinnaite Machinery Co, the Indian firm said on Sunday.
Under the agreement, Sona Comstar will invest USD 12 million and hold a 60 per cent stake, while Jinnaite contributes USD 8 million worth of assets and existing business into the venture.
“Sona BLW Precision Forgings Ltd. (Sona Comstar), a global leader in mobility technology solutions, has signed a binding term sheet with Jinnaite Machinery Co., Ltd (JNT) to establish a joint venture (JV) company in China. The JV will manufacture and supply driveline systems and components to automotive OEMs in China and globally,” the company said in a statement.
Sona Comstar, a leading global supplier of driveline solutions for various automotive segments, is strategically expanding its presence in the faster-growing Asian markets. \
The company 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 operations of the JV are expected to launch in the second half of this year and will initially serve confirmed orders from automotive OEMs across segments.
“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,” Sona Comstar, MD & Group CEO, Vivek Vikram Singh said
He said that by leveraging the strengths of both partners, the 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.
Jinnaite Machinery brings deep manufacturing expertise to the JV, operating a patented foundry and holding over 60 intellectual property assets.
The company plays an active role in developing Chinese national manufacturing standards and has a strong customer base in automotive, rail, and off-highway sectors.
The partnership aligns with Sona Comstar’s global strategy and advances its commitment to electric mobility, precision engineering, and localized manufacturing capabilities.
The JV remains subject to standard regulatory approvals and the fulfillment of closing conditions.
Under the agreement, Sona Comstar will invest USD 12 million and hold a 60 per cent stake, while Jinnaite contributes USD 8 million worth of assets and existing business into the venture.
“Sona BLW Precision Forgings Ltd. (Sona Comstar), a global leader in mobility technology solutions, has signed a binding term sheet with Jinnaite Machinery Co., Ltd (JNT) to establish a joint venture (JV) company in China. The JV will manufacture and supply driveline systems and components to automotive OEMs in China and globally,” the company said in a statement.
Sona Comstar, a leading global supplier of driveline solutions for various automotive segments, is strategically expanding its presence in the faster-growing Asian markets. \
The company 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 operations of the JV are expected to launch in the second half of this year and will initially serve confirmed orders from automotive OEMs across segments.
“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,” Sona Comstar, MD & Group CEO, Vivek Vikram Singh said
He said that by leveraging the strengths of both partners, the 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.
Jinnaite Machinery brings deep manufacturing expertise to the JV, operating a patented foundry and holding over 60 intellectual property assets.
The company plays an active role in developing Chinese national manufacturing standards and has a strong customer base in automotive, rail, and off-highway sectors.
The partnership aligns with Sona Comstar’s global strategy and advances its commitment to electric mobility, precision engineering, and localized manufacturing capabilities.
The JV remains subject to standard regulatory approvals and the fulfillment of closing conditions.