Sona BLW Precision Forgings (Sona Comstar), a leading automotive component manufacturer, has signed a binding term sheet with China's Jinnaite Machinery (JNT) to form a new joint venture. The partnership aims to manufacture and supply driveline systems and components for automotive original equipment manufacturers (OEMs) both within China and globally.

Under the agreement, Sona Comstar will invest USD 12 million, taking a 60 percent stake in the joint venture, while JNT will contribute USD 8 million in assets and business, holding the remaining 40 percent share. Operations are set to begin in the second half of the current financial year, marking a significant move in Sona Comstar’s strategy to expand its footprint in the burgeoning Chinese electric vehicle (EV) market.

The collaboration combines Sona Comstar’s expertise in driveline technology, including system design and precision forging, with JNT’s advanced casting and moulding capabilities. JNT boasts 63 patents and 36 proprietary technologies and plays a key role in shaping national standards for castings in China. Its established relationships with leading Chinese and global automotive OEMs are expected to bolster the joint venture’s prospects.

China continues to assert itself as the world’s largest automotive market, with EV sales reaching 11 million in 2024, representing two-thirds of global volume. Chinese OEMs accounted for 76 percent of global EV sales in the previous year, and their international market share has grown substantially, with exports rising from 1 million units in 2020 to over 6 million in 2024. Robust government policy, advancements in battery and software technology, and rapid expansion of supporting infrastructure have been primary drivers of this growth.

Sona Comstar, already the leading supplier of differential assemblies for battery electric vehicles (BEVs) in North America and among the top in Europe, intends for the joint venture to help further its reach across key markets in Asia, including India, Japan and South Korea, as well as to strengthen its presence in North America and Europe.

Vivek Vikram Singh, Managing Director & Group CEO, Sona Comstar, said, "I am excited to partner with JNT to establish a driveline manufacturing plant in China. This joint venture marks a significant step in our strategy to expand into the rapidly growing Asian markets. As the largest electric vehicle market in the world and a leader in EV technologies, China offers tremendous opportunities for innovation and growth. By leveraging the strengths of both partners, this venture is well-positioned for strong growth and it has the potential to become a key supplier of driveline solutions for electric vehicles in the region. With a robust order book already in place, we expect operations to commence later this year."

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Aligarh-headquartered automotive component maker Pavna Industries is forming a a 80:20 joint venture with Taiwan-based SmartChip Microelectronic Corporation (SMC).

As per the understanding, Pavna will undertake and carry on the business of inter-alia making electronic components for the automobile industry (ICE & EV) and other industries, including hardware for residential/commercial industries, aero and medical, among others in India.

The JV will leverage Pavna’s operational, manufacturing and procurement expertise, as well as its deep understanding of the Indian automotive market, to oversee and manage the operations in India.

On the other hand, SMC will contribute its present and future technical skills, innovations and R&D capabilities in automotive e-lock systems, EV components like motor controller, throttle body, dashboard for two-wheeler & three-wheeler, EV charging piles and e-locking solutions for residential and commercial applications. SMC’s engineering and product development expertise will ensure the JV remains technologically advanced and globally competitive.

Swapnil Jain, Managing Director, Pavna Industries, sai,d "This strategic partnership is an important milestone on our path to emerging as a mobility solutions leader in advanced technologies. By merging Pavna's manufacturing and market capabilities with SMC's state-of-the-art electronics knowledge, we expect to speed up the penetration of EV technologies in India as well as grow into new high-growth markets. With this partnership, we will also further enhance our capacity to serve domestic and global markets with innovative, dependable, and sustainable solutions."

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Gulf Oil Lubricants India Limited, a Hinduja Group company, has announced its unaudited financial results for the quarter ended 30 June 2025, reporting its highest-ever quarterly volume, revenue, and EBITDA. The company achieved double-digit volume growth, which was more than three times the industry growth rate. Consolidated quarterly revenue exceeded INR 10 billion for the first time.

On a standalone basis, the company's revenue from operations was INR 9.96 billion, a 12.57 percent increase YoY, with a Profit After Tax of INR 9.6 billion, up 9.81 percent YoY. Consolidated revenue reached INR 1.01 billion, an increase of 13.69 percent YoY and PAT grew by 12.90 percent to INR 951.7 billion, . The company's EV charger subsidiary, Tirex, also saw significant growth, with its revenue for the quarter increasing by over 163 percent.

Strategic Developments and Outlook

The Board of Directors has approved an INR 550 million capital expenditure (Capex) plan to increase manufacturing capacity by 70 percent, from 140 million litres to 240 million litres. This expansion will be spread over two years and is a key strategic initiative to support the company’s growth ambitions. The Silvassa plant's capacity will increase by 55 percent to 140 million litres, while the Chennai plant's capacity will double to 100 million litres.

Ravi Chawla, Managing Director and CEO, Gulf Oil, said, “The year began on a strong note, delivering yet another market leading performance achieving double-digit volume growth of 11% during the quarter, clearly over 3x the industry growth rate. This underscores the strength of our brand and continued trust of our consumers. Our EV charger subsidiary, Tirex, continued to perform well and closed the quarter with over 163 percent growth in topline catering to broader customer base."

Manish Gangwal, CFO, Gulf Oil, added, "We are quite excited to see our consolidated revenue crossing INR 10 billion as we concluded the quarter with highest-ever volume, revenue and EBITDA, driven by strong strategic execution resulting in profitable, volume-led growth.” He also noted that the company's operating profit for the quarter was Rs. 126.58 crores, a growth of 8.9% over the same period last year.

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Minda Corporation, the flagship company of tier 1 supplier Spark Minda, has announced its financial results for Q1 FY2026 with revenue of INR 13.86 billion, up 16.2 percent YoY, EBITDA of INR 1.56 billion, EBITDA margin of 11.3 percent and a net profit growth of 4.7 percent at INR 650 million.

The tier 1 supplier attributes the growth to its strong product portfolio, expanding customer base and a focus on product premiumisation.

During the period, Minda Corporation also entered into an agreement with Toyodenso to establish a 60:40 joint venture in India for manufacturing and selling of advanced automotive switches.

It aims to provide end-to end solutions for automotive switches across two-wheelers, passenger cars and other automotive segments in India. The new JV has already received orders from customers in India with a greenfield plant to be set up in Noida. The operations are expected to commence in H2 of FY2027.

Furthermore, Minda Corporation also inked a collaboration with Qualcomm to co-develop Smart Cockpit Solutions.

Ashok Minda, Chairman and Group CEO, Minda Corporation, said, “The first quarter of FY26 witnessed a strong performance, supported by resilient demand across key vehicle segments. Leveraging our focus on operational excellence, technology integration, and customer-centric initiatives, we continued to strengthen our market position. As we progress through the year, we remain focused on expanding our market reach, enhancing exports, and delivering sustainable value to our stakeholders through consistent execution and strategic initiatives.”

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American tier 1 supplier BorgWarner has announced that it has bagged a new order from a major Chinese original equipment manufacturer (OEM) for its electric motors.

As per the understanding, BorgWarner will supply a platform-based design, compatible across a full range of NEV applications, including battery electric and hybrid models. It also incorporates BorgWarner’s innovative ultra-short hairpin welding process, which reduces end-turn height for a more compact structure and significantly improves space utilisation.       

Dr Stefan Demmerle, Vice-President, BorgWarner Inc and president & General Manager, PowerDrive Systems, said, “We are pleased with the continued progress of our electric motor business in China. Our partnership with this customer spans nearly a decade. BorgWarner remains committed to delivering smarter, more efficient motor solutions as we work together toward an electrified future.”

Furthermore, to meet rising demand from the Chinese automotive industry, BorgWarner is expanding its motor operations and early this year it signed a MoU with the Wuhu municipal government to establish a new manufacturing base for electric drive systems.

Once on stream, the facility will feature intelligent manufacturing lines capable of producing multiple motor platforms on shared lines, increasing motor capacity and laying a solid foundation for scaled delivery.

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