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Systematix Research Report
Sona BLW Precision Forgings Ltd. (Sona Comstar) is a leading supplier of forged drivetrain components, motors (starter/traction) and controllers to the fast-growing battery electric vehicle markets.
It enjoys a global market share of 13% in differential assemblies in EVs, 6% in differential gears (gears) and 5% in starter motors.
The company has first-mover advantages from developing affordable EV products across the powertrain in-house.
We see Sona Comstar as a direct play on global electrification in passenger vehicles and the rising share of e-two-wheeler and e-three-wheeler in India.
The opportunity size from just the differential assemblies and traction motors is expected to increase to $4.1 billion per annum by CY30 (from $105 million in CY20).
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