Sona Comstar inks pact with Enedym to produce magnet-less EV Motors; stock jumps ~2.5%

20 Apr 2022 , 02:11 PM

Sona BLW Precision Forgings Ltd. (Sona Comstar), a leading global automotive technology company, has formed a strategic partnership with Enedym Inc. (Enedym) of Hamilton, Ontario, Canada.

Enedym is a technology company that develops next-generation switched reluctance motors (SRMs), electric propulsion, and electrified powertrains.

Under this partnership, both the parties will develop SRM drive platforms keeping in mind the Indian road and usage conditions targeting 2-wheeler high-performance motorcycles (10-20kW peak power), 3-wheeler electric vehicles (10-30kW peak power), and 4-wheeler cargo delivery electric vehicles having 20-40kW peak power.

In addition, Enedym will license its SRM technologies to the company to enable it to manufacture the drive motors, controllers, and drivetrains for the target applications exclusively in India. The company is likely to initiate serial production of these systems in 2023.
Electric three-wheelers are leading the transition to EVs in India, as the segment recorded over 14% share in the overall three-wheelers sales in FY21.

Enedym has developed novel families of next-generation SRMs with improved power density, efficiencies, and performance for varied applications.

Sona Comstar is currently trading at Rs648.40 up by Rs15.2 or 2.4% from its previous closing of Rs633.20 on the BSE. Its scrip has touched intraday high and low of Rs657.65 and Rs639.40 respectively.