After selling its entire stake to Japan’s JTEKT Corp, Sona Group to now focus on its forging business_After selling its entire stake to Japan's JTEKT Corp, Sona Group to now focus on its forging business

After selling its entire stake to Japan’s JTEKT Corp, Sona Group to now focus on its forging business

May 21, 2024

The group plans to invest Rs 30-4,000 crore in five years to double the revenue from its forging business in India to Rs 2,000 crore.

NEW DELHI: Indian auto component maker Sonana Group on Wednesday announced its decision to sell its entire stake in Sona Koyo Steering Systems Japan’s JTEKT Ltd (SKSSL). He said he would focus on the forging business. The group plans to invest Rs 300-400-400 crore over the next five years to double the sales of its Indian forging business to Rs 200 crore.

Sona BLW Precision Forgings Sunjay Kapur “This deal enables us to focus, invest and grow our precision forgings business.” As technology in the automotive industry continues to evolve, we want to dominate our business through technology. This will enable us to react quickly in the event of a technology disruption,” Kapoor said. Sona Group has gained several customers in the electric vehicle sector. Announced the opening of a new plant to enhance the manufacturing capabilities of Sonaa BLW Precision Forgings Ltd.

In India, Sona Group currently has a revenue of Rs. 5 billion from its forging business. Kapoor aims to increase this to Rs 200 crore in the next five years. This will require an investment of Rs 300-400-400 crore for product development, capacity expansion and R&D.

Sona Group on Wednesday announced an agreement with JTEKT related Corp at 41.928 to enter into an agreement to sell 25.12% entire stake in its flagship Sona Koyo Steering Systems Ltd (SKSSL) for Rs 100 crore. The transaction has been finalized at a price of Rs 84 per share basis, valuing the joint venture at around Rs 19.22 billion. This is the first strategic deal for the Sona Group under Kapoor, who took over the management after a sudden bankruptcy.

Recommended Suppliers

TDDCHEM SINGAPORE PTE.LTD（cnauto）

Retailer

CN Supplier

1 YRS

Main Products:

Titanium dioxide, pigments, fillers, alcohols

Established:

2024-09-13

Company Size:

10000

Contact Supplier

Geely Jiyue 01 Max

LEADING IDEAL L9

Shandong Tuduoduo Digital Technology Co., Ltd

Retailer

CN Supplier

1 YRS

Main Products:

Titanium dioxide, pigments, fillers, alcohols

Established:

2024-08-09

Company Size:

10000

Contact Supplier

Wheel excavator

chengdutuduoduo

Retailer

CN Supplier

1 YRS

Main Products:

Whole vehicle, used car

Established:

2024-08-01

Company Size:

10000

Contact Supplier

Great Wall Artillery 2.0T

Peugeot 301 1.6L

Radar RD6 Pure electricity

Nissan Qijun 2.5L

TDD (QINGDAO ) CROSS-BORDER E-COMMERCE CO.,LTD.

Retailer

CN Supplier

2 YRS

Main Products:

Auto parts、Rubber tyre、Finished car

Established:

2023-01-01

Company Size:

10000

Shandong Xingyun New energy Automobile Co., LTD

Retailer

CN Supplier

1 YRS

Main Products:

New energy vehicle sales; Auto parts research and development; Auto parts and accessories manufacturing; Off-highway recreational vehicles and spare parts manufacturing; Off-highway recreational vehicles and spare parts sales; Electric car manufacturing;

Established:

2024-03-20

Company Size:

500

Contact Supplier

Beijing Tianhao Shengshi trading Co., LTD

Retailer

CN Supplier

10 YRS

Main Products:

12/5000 Lubricating oil, import and export agent

Established: