The agreement was signed on 30 September 2021 through the initiative of International Center for Entrepreneurship and Technology (iCreate), India's technology business incubation center.

As per the agreement, IRP will license its technology to Sona Comstar for manufacture of the System exclusively in India for the global market. The System envisages an innovative motor-plus-controller combination that does not use rare earth elements like neodymium, besides offering high efficiency and low cost to manufacturers of electric two- and three-wheelers. The Project is expected to mitigate the risk stemming from dependency on limited and unreliable sources, apart from ensuring a more environmentally friendly production process.