Sona BLW plans to invest $130M to make EV auto parts.
25% of Sona BLW's revenue comes from EVs and they have an order book of $2.4B for EV parts.
Gurugram-based auto parts maker Sona BLW Precision Forging is planning to invest $130 million over the next three years to manufacture EV parts.
Sona BLW makes auto parts such as motors, controllers, and e-axles for 2,3, and 4-wheeler electric vehicles. The company supplies these parts to EV manufacturers in India, US, China, Mexico, and some European countries.
Apart from six manufacturing plants in India, Sona BLW has factories in USA, Mexico, and China as well.
In an interview with Reuters, Sunjay Kapur, Chairman of Sona BLW, said: All our new investments will go towards electrification. The bulk of Sona’s order book of $2.4 billion over the next few years is for EV components. 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. 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.
Also Read: Volkswagen partners with Mahindra to supply components for electric vehicles.
