Sona Group to invest Rs 300-400 cr in R&D over 3-4 years: CEO

Auto component-maker Sona Group Tuesday announced it is buying out its Japanese partner Mitsubishi Corp’s 25 percent stake in Sona BLW Precision Forgings. The company outgrew its dependence on Mitsubishi and hence, decided to go for a buyback, said Sunjay Kapur, CEO of Sona Group. “This will allow us to invest in our own technology.”The focus can now be on the forgings business, where the company has 19-20 percent market share globally. The company plans to grow in the driveline space. Shift to electric in automotive industry is expected to happen sooner than later and investment now will help the company to adapt to technological disruptions later. The Group plans to ramp up its research & development in the field. It will invest Rs 300-400 crore over next 3-4 years, mostly in India, Kapur said. Watch video for more..