Posted on November 8, 2022 / 5
Listing Type : Investment News

The company, a major supplier of systems and components for the electrified and non-electrified powertrain segment to automobile manufacturers, expects revenue from the electric vehicle (EV) segment to account for up to 45 per cent of its total revenue, up from 25 per cent currently.

“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 told PTI.

Under the expansion plan, Sona Comstar 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                                                                                    Economic times

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