Enedym Inc. develops next generation switched reluctance motors (SRMs), electric propulsion, and electrified powertrains. Enedym's patented SRM drive technology requires no permanent magnets or other rare earth metals and offers high performance, power density, and efficiency.

Under the agreement, the parties will develop SRM drive platforms for Indian road and usage conditions targeting 3-wheeler electric vehicles (10-30kW peak power), 2-wheeler high-performance motorcycles (10-20kW peak power) and 4-wheeler cargo delivery electric vehicles (20-40kW peak power).

In addition, Enedym will license its SRM technologies to Sona Comstar for manufacturing the drive motors, controllers, and drivetrains for the target applications exclusively in India. The serial production of these systems is likely to commence in 2023.

Sona Comstar is primarily engaged in designing, manufacturing, and supplying highly engineered, mission critical automotive systems and components to automotive OEMs. Sona Comstar is a leading supplier to the fast-growing global Electric Vehicle (EV) market.

Net profit of Sona Comstar rose 3.53% to Rs 86.44 crore on 0.99% rise in net sales to Rs 494.15 crore in Q3 December 2021 over Q3 December 2020.

Shares of Sona Comstar rose 1.66% to settle at Rs 633.20 on Tuesday.