Sona BLW carves out EV business; forms two JVs with Japan's DENSO
SONACOMS · price
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Sona BLW to transfer EV business (FY26 turnover INR 3,855 million) to wholly owned Sona eDrive via slump sale for INR 8,932 million. Japan's DENSO to buy 49% in Sona eDrive at INR 17,500 million enterprise value (JV1). Separately, a second JV with DENSO for 4-wheeler EV powertrains, where DENSO holds 51% and Sona 49%, with INR 535 million investment. Subject to approvals, completion by March 2027.
Major restructuring with Japan's DENSO. EV business carved into JV; INR 8,932 million slump sale proceeds while retaining 51% control in JV1.