Sona Comstar partners with DENSO for two EV powertrain JVs

Sona Comstar signed agreements with DENSO Corporation to form two JVs for EV and hybrid powertrain systems. JV1 covers 4-wheelers with liquid-cooled inverters and motors, DENSO holds 51 percent, Sona 49 percent. JV2 covers 2-wheelers and 3-wheelers, where Sona transfers its existing e-traction motor business into a subsidiary via slump sale, and DENSO acquires 49 percent at Rs 17,500 million enterprise value. Sona retains 51 percent and management control. Subject to regulatory approvals.