Sona BLW Precision Forgings Ltd Group CFO RohitNanda, said that the auto component manufacturer expects to invest up to Rs 1,000 crore by FY25 to expand up capacity, mostly for EV market.
The company, a significant supplier of systems and parts to the automotive industry’s electrified and non-electrified powertrain sector, anticipates that by 2025, sales from the electric vehicle (EV) segment would represent up to 45% of its overall revenue, up from the current 25%.
“Over a timeframe of FY23 plus two years — FY24 and FY25, I will say our expected capex spend will be anywhere between Rs 900 crore to Rs 1,000 crore. A large part of this (around 75 to 80 per cent) is for the EV business,” Nanda said.
Under the expansion plan, SonaComstar would set up another plant at Manesar in Haryana for additional differential assembly capacity, he said adding the capacity of the existing facility has been fully utilised.
