Engineering Company Signs MoU with The ePlane Co. to Develop Powertrain for eVTOLs and Drones
As of December 2024, FIIs decreased their stake to 33.25 per cent while DIIs increased their stake to 31.15 per cent compared to September 2024.
Sona BLW Precision Forgings Ltd. (Sona Comstar), one of the leading global providers of mobility technology solutions, has signed a memorandum of understanding (MoU) with Ubifly Technologies Private Limited (The ePlane Co.) at Chennai. The MOU will enable Sona Comstar and The ePlane Co. to cooperate in the areas of eVTOLs and Drones. The companies will collaborate on the development of powertrains for eVTOLs and Drones, including gearboxes, motors, inverters, and related components and systems.
The Urban Air Mobility Space in India is poised to launch several eVTOLs in the coming years. The ePlane Co is a pioneer in the field of eVTOLs with several use cases including Air Ambulances, Charter Flights and Aerial Cargo. Their recent type approval from DGCA puts them at the forefront of indigenous private companies.
Sona Comstar is a global leader in the mobility space with a strong focus on EPIC technologies and proven capabilities in electric powertrains including motors, inverters and Gearbox. This MOU will strengthen the partnership between the two companies and pave the way for deeper engagement in the upcoming eVTOL and Drone programs, and deliver truly Made in India products.
Ubifly Technologies Private Limited, operating as The ePlane Company, is an IIT Madras incubated startup developing an all-electric, zero-emission air taxi. Their compact eVTOL aircraft is designed to address urban congestion and pollution within the USD 1+ trillion global urban air mobility (UAM) market. ePlane holds multiple patents and is the first private Indian company to receive Design Organisation Approval (DoA) from the DGCA for an electric aircraft. Their innovative design allows for long-range flights at lower speeds by utilizing powered-down vertical rotors for increased lift. Founded in 2019 by Prof. Satya Chakravarthy, the company comprises over 100 experts and is currently testing a cargo plane while their air taxi undergoes detailed engineering and regulatory audits, with human-piloted flights planned initially before transitioning to autonomous operation.
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About Sona BLW Precision Forgings Limited
Sona BLW Precision Forgings Limited (Sona Comstar), a global automotive technology leader founded in 1995 and headquartered in Gurugram, India, supplies mission-critical automotive systems and components to OEMs worldwide. With a strong global presence encompassing manufacturing, R&D, and engineering centres across India, the USA, Serbia, Mexico, and China, Sona Comstar is a key player in the rapidly expanding electric vehicle (EV) market. The company's expertise lies in designing, manufacturing, and supplying highly engineered solutions, leveraging its robust R&D capabilities in precision forging, mechanical and electrical systems, mmWave radar sensors, and software development. Sona Comstar's diversified portfolio spans geographies, products, vehicle segments, and customers, positioning it as a prominent force in the automotive industry.
On Thursday, shares of Sona BLW Precision Forgings Ltd gained 3 per cent to an intraday day high of Rs 517.55 per share. The stock has an ROE of 21 per cent and an ROCE of 24 per cent. As of December 2024, FIIs decreased their stake to 33.25 per cent while DIIs increased their stake to 31.15 per cent compared to September 2024. As of December 2024, Life Insurance Corporation of India (LIC) owns a 1.53 per cent stake in the company.
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Disclaimer: The article is for informational purposes only and not investment advice.