Sona BLW Precision Forgings Ltd (“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. Under the agreement, Equipmake will license certain patented spoke motor and inverter technology in the power range of 100kW to 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. Sona Comstar 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. The companies expect the serial production of these systems to commence in 2025.
Equipmake has over 20 years of experience developing and integrating industry-leading electrification products for the provision of electric vehicle drivetrains to meet the needs of the automotive, aerospace and other sectors in support of the transition from fossil-fuelled to zero emission vehicles. Equipmake specialises in ultra-high performance electric motors, complete EV drivetrains and ultra-fast power electronic systems.
CRISIL expects the demand for electric passenger vehicles in India to increase to 25% in FY32, up from less than 1% 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 30k units in FY22 to 1.6 mn in FY32. CRISIL has projected the penetration of electric buses in India to increase to 11% in FY27 and 21% in FY32, up from 5% in FY22, driven by improving unit economics, government push at state transport undertakings (STU) and ESG concerns. STU will initially drive electric bus penetration, followed by school and staff bus segments. In absolute numbers, CRISIL estimates the electric buses market in India to grow from ~1.6k units in FY22 to over 27k in FY32.
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