Sona Comstar collaborates with Israel’s IRP Nexus Group ; To manufacture Magnet‐less Drive Motor for performance two‐wheelers and three‐wheelers
Biznextindia : Sona BLW Precision Forgings Limited, through its wholly owned subsidiary company Sona Comstar eDrive Private Limited has entered into a collaboration agreement with IRP Nexus Group Ltd., Israel to develop, manufacture, and supply a Magnet-less Drive Motor and the Matching Controller for Performance Two-wheelers and Three-wheelers for the Global Market.
The agreement was signed on 30th September 2021 through the initiative of International Center for Entrepreneurship and Technology (iCreate), India’s technology business incubation center. As per the agreement, IRP will license its technology to Sona Comstar for manufacture of the System exclusively in India for the global market. The System envisages an innovative motor-plus-controller combination that does not use rare earth elements like neodymium, besides offering high efficiency and low cost to manufacturers of electric two- and three-wheelers. The Project is expected to mitigate the risk stemming from dependency on limited and unreliable sources, apart from ensuring a more environmentally friendly production process.
Under the arrangement, Sona Comstar will pay onetime license fees and royalty to IRP Nexus during the term of the Agreement. The term of the Agreement is 7 (seven) years. Sona Comstar will have the exclusive rights to manufacture the System in India and non-exclusive rights to sell and distribute the System globally.
“This can be a game changer for the EV segment and may bring about a revolutionary change in the automobile industry. The EV industry is likely to benefit from reduced cost of production and will be insulated against supply chain disruptions of rare earth minerals required today for electric motors. Sona Comstar has been at the forefront of introducing cutting edge technology for the automotive segment and envisages that this development may bring about a positive shift towards quicker adoption of EV globally. We are confident that this new innovating technology will have wide scale implication and the potential towards environmental sustainability, besides reducing the cost of EV vehicles” Mr. Sunjay Kapur, Chairman Sona Comstar