Joint Venture22 Jul 2026, 05:21 pm
Sona BLW Forms EV JV with DENSO, Transfers EV Business
AI Summary
Sona BLW Precision Forgings Ltd announced a significant restructuring of its Electric Vehicle (EV) business. The company's EV division will be transferred via slump sale to its wholly-owned subsidiary, Sona Comstar eDrive Private Limited (Sona eDrive), for INR 8,932 million. Concurrently, Sona eDrive will form a joint venture with DENSO Corporation, Japan, where DENSO will acquire a 49% stake for an enterprise value of INR 17,500 million, leaving Sona BLW with a 51% stake. Additionally, Sona BLW will form a separate joint venture (JV2) with DENSO for electric and hybrid powertrain systems for 4-wheelers and above, with DENSO holding 51% and Sona BLW holding 49%.
Key Highlights
- EV business carved out and transferred to Sona eDrive via slump sale.
- DENSO to acquire 49% stake in Sona eDrive for INR 17,500 million.
- Sona BLW to hold 51% in the new EV business joint venture.
- New JV (JV2) formed with DENSO for 4-wheeler EV/hybrid powertrain systems.
- DENSO to hold 51% in JV2, Sona BLW to hold 49%.
Price Impact
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