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The companies have come together with iCreate (International Centre for Entrepreneurship and Technology) to develop, manufacture and market the new electric motor globally. As per the agreement inked between the entities, IRP will license its technology to Sona Comstar for manufacturing the system exclusively in India, expecting to start mass production in 2023.
Under the agreement, IRP will license its technology to Sona Comstar for manufacturing of the system exclusively in India, expecting to start mass production in 2023.
The project entails India and Israel collaborating to conceive, design, prototype and manufacture a high efficiency, low-cost, magnet-less powertrain (motor + controller) for electric two and three wheelers, for the global market.
New Delhi, Jul 15 (PTI) Auto component maker Sona Comstar on Thursday said it has joined hands with Israel's IRP Nexus Group (IRP) to initiate a project to co-develop a new electric motor that would avoid usage of rare earth elements.
Please find attached a media release by the Company; titled ''iCreate brings together IRP Systems of Israel and Sona Comstar of India to create a revolutionary magnet-less e-motor technology for the global electric vehicles market.''
Sona Comstar IPO: The ? 5,550-crore IPO, which was open between June 14 and June 16, comprised a fresh issue of ? 300 crore and an offer for sale of ? 5,250 crore by the selling shareholder
Sona Comstar, which was sold from June 14 to June 16, was subscribed 2.33 times, with the portion meant for qualified institutional buyers (QIBs) getting subscribed 3.54 times.
The issue comprises fresh issuance of equity shares, aggregating up to Rs 300 crore, and an offer for sale of shares worth up to Rs 5,250 crore.
