Sona BLW Precision Forgings witnessed a notable surge in its shares after announcing the signing of a Memorandum of Understanding (MoU) with Ubifly Technologies Private Limited (The ePlane Co.) in Chennai. The collaboration aims to develop advanced powertrains for electric Vertical Take-Off and Landing (eVTOL) aircraft and drones, encompassing essential components such as gearboxes, motors, inverters, and related systems.
As of 9:18 am the shares were trading 2.69% higher at ₹514.50 on NSE.
The MoU is seen as a major boost to India’s Urban Air Mobility (UAM) sector, which is on the cusp of rapid growth with innovative applications such as air ambulances, charter flights, and aerial cargo. The ePlane Co.’s recent type approval from the Directorate General of Civil Aviation (DGCA) further cements its leadership in the sector.
Sona Comstar’s well-established expertise in electric powertrains and cutting-edge components, including motors, gearboxes, and inverters, makes it a perfect partner for The ePlane Co.’s vision of revolutionizing air mobility. This partnership is expected to result in the development of groundbreaking technologies and facilitate the launch of eVTOLs and drones tailored to India’s emerging market demands.
Mr. Vivek Vikram Singh, MD and Group CEO of Sona Comstar, expressed enthusiasm for the collaboration, noting that it aligns with the company’s strategy of focusing on EPIC (Electric, Powertrain, Inverter, and Control) technologies. He emphasized that this partnership not only supports the advancement of India’s domestic air mobility capabilities but also promotes the development of “Made in India” products for the global market.
This strategic collaboration is expected to significantly contribute to India’s leadership in next-generation transportation and urban air mobility solutions.
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