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Sona Comstar taps China EV parts market amid rare earth hit
Mint Mumbai
|July 21, 2025
Sona Comstar will invest $12 million for 60% stake in a JV with Jinnaite Machinery Co. for EV parts supply to local, global OEMs
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.
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.
This story is from the July 21, 2025 edition of Mint Mumbai.
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