More
    HomeEV NewsIndia EV NewsSona BLW Precision to Build more Clean Cars

    Sona BLW Precision to Build more Clean Cars

    Indian auto parts maker Sona BLW Precision Forgings expects two-thirds of its revenues to come from electric vehicle (EV) components over the next few years, as automakers rush to build more clean cars, its chairman told.

    Sona BLW, which produces drivetrain components such as motors and gears, will invest about $130 million over the next three years towards its electrification push, Sunjay Kapur said in a recent interview.

    With carmakers investing billions of dollars to build EVs, auto part suppliers are also diversifying their business towards new and clean technologies and moving away from gasoline-reliant supply chains.

    “All our new investments will go towards electrification,” Kapur said, adding that the bulk of Sona’s order book of $2.4 billion over the next few years is for EV components.

    Sona BLW started investing in EV parts in 2015 and mainly supplies them to carmakers in North America, Europe, and China.

    It has entered into partnerships with global companies to build electric motors and is also working with Israel’s IRP on developing magnet-less motors to cut dependence on key raw materials that are in short supply.

    The early bet on EVs globally has helped the company scale its manufacturing capacity in India, giving it a headstart in the country in terms of cost and technology, Kapur said.

    India wants to accelerate the push for EVs to meet its climate and carbon reduction goals, and Prime Minister Narendra Modi’s administration is offering companies billions of dollars in incentives to build clean cars and their components.

    The government is aiming for 30% of total car sales to be electric by 2030 from a fraction today.

    “If you want to invest in EVs, infrastructure, and components (in India), you need to look at larger markets. We look at markets outside of India and that knowledge we bring back to India to fuel growth here,” Kapur said.

    Related Post

    Most Popular

    Best Picks

    Wireless Power in the Kitchen

    Authors: Akshat JAIN, STMicroelectronics India, Fabrizio Di FRANCO, STMicroelectronics, Italy, Martin DENDA, Rene WUTTE, STMicroelectronics Austria, Bruno TISSERAND, STMicroelectronics, France Wireless power is going to...

    MWC Shanghai 2024: 3 demos that are about improving...

    Author: STMicroelectronics MWC Shanghai 2024 should be memorable, thanks to more than 30 innovative product showcases and demonstrations, nine applications on display, and more than...

    AEKD-TRUNKL1: one power liftgate demo can transform how engineers...

    Author: STMicroelectronics The power liftgate built on the AEKD-TRUNKL1 is always a highly popular and easily recognizable demo, as its loud beeps alert attendees that the trunk...

    STMicroelectronics offers Cost-Effective, Fastest, and First STM32 MCUs to...

    STMicroelectronics is a global leader in the semiconductor space developing customer-centric and sustainable products. Their STM32 Portfolio is a hugely popular highly reliable and...

    India’s Promising EV Market is Lending Hope for an...

    The world faces serious environmental concerns that require immediate attention and progressive solutions. The human civilization is at a crossroads where every decision will...

    Sustainability is not just a corporate responsibility, but a...

    STMicroelectronics, a global semiconductor leader serving customers across the spectrum of electronics applications is among the early changemakers in the ongoing sustainability issue. The...

    Balancing Currents for Optimal Performance in Automotive Smart Drivers

    Author: Giusy Gambino, Marcello Vecchio, and Filippo Scrimizzi from STMicroelectronics, Catania, Italy When developing distributed intelligence for smart power switches in automotive power management systems, it...

    STM32CubeMX 6.11 opens its GUI to the boot flash...

    Author: STMicroelectronics  STM32CubeMX 6.11 is a new milestone as it allows developers to use the unique features of the new STM32H7R and STM32H7S. The software also continues...

    Raptee Sets the Stage for Two-Wheeler EVs in India

    Raptee is a full-stack two-wheeler EV startup with their flagship product highly tech-enabled and IoT-centred. The team began operations out of Chennai in 2019...

    Must Read