SONA COMSTAR TAPS CHINA EV PARTS MKT AMID RARE EARTH HIT

Sona Comstar has entered China’s electric vehicle (EV) market through a joint venture with Jinnaite Machinery Co. at a time when its US business is facing headwinds due to Trump's tariffs and the India unit is suffering because of Chinese rare earth restrictions.

- Ayaan Kartik

The Gurugram-based firm will invest $12 million in the joint venture and hold a 60% stake, while its Chinese partner will contribute $8 million, according to a company statement. The JV will provide driveline components to Chinese and global original equipment manufacturers (OEMs).

The joint venture is expected to start operations in the second half of the current financial year.