New Delhi
Sona Comstar has earmarked a capex of around Rs 6 billion for the current fiscal as it remains positive about sustaining its growth trends in the current fiscal and beyond, as per a top company official.
The Gurugram-based firm invested about Rs. 2.19 billion in the 2020-21 fiscal. The company is engaged in the business of manufacturing and assembly of starter motors, controllers, alternators and starter kits forming part of automobiles and EVs in the domestic and global market. Vivek Vikram Singh, MD and Group CEO, Sona Comstar said that, a large share of this capex will be spent in the Gurgaon plant to further build the capacity to expand their electric vehicle business. The remaining part will be spent in the differential assembly plant as it is already running at full capacity and they need to expand this to cater the growing demand.
He also said that, the electric share of order is further split into passenger vehicles, two-wheeler, three-wheeler and commercial vehicles and on the non-EV side there are 69 programmes spread across 31 customers.
Sona Comstar has 9 manufacturing and assembly facilities of which 6 are located in India and one each in China, Mexico and the US. Also, it has eight warehouses across India, USA, Germany and Belgium. Its newest Chakan plant, which will manufacture both gears and differential assemblies, will be operational by the end of this year. Earlier this month, the auto component maker reported its first earnings as a listed entity.
Source: ETAuto.com
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