Sona BLW Precision Forgings Ltd (Sona Comstar*), a leading global automotive technology company, has partnered with C-Motive Technologies ("C-Motive"), the technology company that has developed the world's first commercially viable electrostatic motor. Sona Comstar and C-Motive will collaborate to develop electrostatic drive motors for electric vehicle (EV) applications, for which we estimate the serial production will likely start in 2026. The proposal, amongst others, involves participation in CMotive's latest financing round.
C-Motive's product is a reinvention of the electric motor. Traditional electric motors use electromagnetic forces to convert electric power to mechanical power. C-Motive's product harnesses the power of static cling to liberate engineers and designers from permanent magnets and active cooling. C-Motive's electrostatic machines deliver high torque and ultrahigh efficiency at low speeds without using rare earth metals or permanent magnets.
C-Motive's electrostatic machine technology can be scaled from a single kilowatt to tens of megawatts. These machines can be designed for varied purposes: small, modular torque motors for stationary applications to large, rugged machines for e-mobility drivetrains and multimegawatt generators for wind turbines. By limiting the use of copper and removing the need for permanent magnets, C-Motive's technology can deliver a machine that is less price volatile and more efficient at the same time, reducing embodied carbon and carbon emissions along the way.
Commenting on the partnership Mr Kiran M Deshmukh, Group CTO of Sona Comstar, said, "We are proud to announce our partnership with C-Motive, a technology start-up that is using electrostatic forces to build a motor through a series of multiplicative gains in mechanical, electrical, and electrochemical innovations. We are impressed with C-Motive's motor's high yet ripple-free torque generation without active cooling, very little copper, and no rare earth metals or magnets. With the development of technologically superior and commercially competitive products compared to the existing electromagnetic motors, there will be a large market opportunity in the fast-growing e-mobility market. Sona Comstar will continue to offer cutting edge technologies to its customers and play a leading role in driving faster adoption of electric mobility in India and globally."
Mr Matthew Maroon, Chief Executive Officer at C-Motive Technologies, commented, " CMotive was founded with the goal of transforming how the world produces and consumes electricity. We share Sona Comstar's vision of the mobility markets of the future and believe that their technical capabilities, global reach, and high-quality manufacturing operations are an ideal match for C-Motive's next-generation motor technology. Together we will be able to accelerate the world's transition to electrify mobility and do so with an efficient and environmentally sustainable product. On behalf of the entire C-Motive team, we thank the team at Sona Comstar for their vision and hard work in putting this partnership in place. We are excited for our future together."
Shares of Sona BLW Precision Forgings Limited was last trading in BSE at Rs. 611.60 as compared to the previous close of Rs. 633.25. The total number of shares traded during the day was 34294 in over 1949 trades.
The stock hit an intraday high of Rs. 640.15 and intraday low of 606.70. The net turnover during the day was Rs. 21183987.00.