New Delhi, Apr 10 (PTI) Auto component maker Sona BLW Precision Forgings (Sona Comstar) on Monday inaugurated a new manufacturing facility in Chakan, Pune to roll out driveline products.

The plant, which is the company's 9th facility overall, has come up at an investment of Rs 231 crore and will play a critical role in scaling up capacities to fulfill its order book of Rs 23,800 crore.

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Sona Comstar said the new facility has a production capacity of nearly 1.18 crore gears, which is expected to reach 2.01 crore differential gears by the end of FY25.

The driveline system in a vehicle helps distribute power from the engine and transmission to the wheels.

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"This expansion marks a significant milestone in our growth journey, as we remain committed to our vision of being a global leader in the automotive technology solutions space," Sona Comstar MD & Group CEO Vivek Vikram Singh said in a statement.

The company's primary target would be to cater to exports and customers in the western region of India with the new plant, he added.

Sona Comstar had its plant at Bhosari, in Pune, which has now been shifted to this larger facility in Chakan.

The company has nine manufacturing plants across the world with one each in Mexico, China, the US and six in India.

As per industry estimates, Sona Comstar's global market share in differential gears increased to 7.2 per cent in 2022 from 5 per cent in 2020.

The company said it continues to dominate the Indian market for differential gears with a 60-90 per cent market share across vehicle categories.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)