Sona Comstar, Equipmake sign pact to bring new e-powertrains to cars, buses in India
Under the agreement, Equipmake will license certain patented spoke motor and inverter technology in the range of 100kW-440 kW to Sona Comstar to manufacture and sell EV Powertrains, subsystems, and components for electric cars, buses, commercial vehicles and off-road vehicles.
ANI
May 16, 2023 12:37 IST
Gurgaon (Haryana) [India], May 16 (ANI): Leading global automotive technology firm Sona BLW Precision Forgings (Sona Comstar) has signed a technology-licensing agreement with Equipmake, a UK-based technology company, that has developed high-performance electric powertrains.
Equipmake's patented technology offers high power density and efficiency with high performance, making it ideal for electric cars, buses, and commercial vehicles, according to a statement from Sona Comstar.
Under the agreement, Equipmake will license certain patented spoke motor and inverter technology in the range of 100kW-440 kW to Sona Comstar to manufacture and sell EV Powertrains, subsystems, and components for electric cars, buses, commercial vehicles and off-road vehicles.
Sona Comstar will lead the business development and customer sales in India, Thailand and select South Asian countries, while Equipmake will lead the sales in the rest of the world, it added.
The homegrown company will exclusively manufacture EV powertrains, sub-systems, and components, based on Equipmake's patented technology, for the target applications exclusively in India and other select markets.
Sona Comstar will also manufacture and sell EV powertrains, sub-systems, and components for the target applications to Equipmake and its global customers in other overseas markets, according to the statement. The companies expect the serial production of these systems to commence in 2025.
Equipmake specialises in ultra-high performance electric motors, completes EV drivetrains and ultra-fast power electronic systems.
CRISIL expects the demand for electric passenger vehicles in India to increase to 25 per cent in 2031-32 (FY32), up from less than 1 per cent in FY22, led by the commercial segment (fleet) due to favourable economics. In absolute numbers, it estimates the electric car market in India to grow from 30,000 units in FY22 to 1.6 million in FY32.
CRISIL has projected the penetration of electric buses in India to increase to 11 per cent in FY27 and 21 per cent in FY32, up from 5 per cent in FY22, driven by improving unit economics, government push at state transport undertakings (STU) and environmental, social and governance (ESG) concerns.
Sona Comstar is an innovation-led automotive technology company delivering mission-critical systems and components to our customers worldwide, according to the company statement. (ANI)
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