Sona Comstar Forms $20 Million Joint Venture with JNT to Expand into China’s EV Market

Sona BLW Precision Forgings Ltd. (Sona Comstar), a leading Indian auto component manufacturer, has signed a binding term sheet to form a $20 million joint venture (JV) with China-based Jinnaite Machinery (JNT). The JV is aimed at producing and supplying driveline systems and components to automotive OEMs in China and globally. Under the agreement, Sona Comstar will invest $12 million, while JNT will contribute $8 million in assets and business during the first phase. The JV is expected to begin operations in the second half of FY2025.

This partnership marks a strategic move for Sona Comstar to expand into China's rapidly growing EV market—the largest in the world. In 2024 alone, China sold 11 million EVs, accounting for nearly two-thirds of global sales. The JV will leverage Sona Comstar’s expertise in driveline design and manufacturing, combined with JNT’s strengths in casting, molding, and its robust supplier and customer base. JNT also brings to the table 63 patents and 36 proprietary technologies, enhancing the JV's technological edge.

The venture is anticipated to significantly boost Sona Comstar’s presence in Asia, complementing its existing footprint in India, Japan, and South Korea. The deal is subject to customary closing conditions.