Sona Comstar Expands Globally with $20M JV Alongside Chinese Partner JNT.

Sona BLW Precision Forgings (Sona Comstar) recently said it has signed a binding term sheet with Jinnaite Machinery (JNT) to establish a $20 million joint venture (JV) company in China to manufacture and supply driveline systems and components to automotive original equipment manufacturers (OEMs) in China and globally.

Sona Comstar will invest $12 million, while JNT will contribute $8 million in assets and business to the JV company in the first phase and the JV is expected to commence operations in the second half of the current financial year, the company said adding that this will be a significant milestone in Sona Comstar’s expansion into the Chinese electric vehicle (EV) market.

JNT operates a world-class foundry utilising patented technology to manufacture complex castings and molds and has a strong customer base in the automotive, off-highway, and railway sectors, including leading Chinese automotive OEMs, as well as those from North America, Europe, and Japan.