ENEDYM/SONA-COMSTAR

Enedym Inc. (“Enedym”), the technology company that develops next generation switched reluctance motors (SRMs), electric propulsion, and electrified powertrains, today announced a strategic partnership with Sona BLW Precision Forgings Ltd (“Sona Comstar”), a leading global automotive technology company. Under the terms of the agreement, Enedym and Sona Comstar will develop SRM drive platforms for Indian road and usage conditions targeting 3-wheeler electric vehicles and 2-wheeler high-performance motorcycles having 10kW or greater nominal power and 4-wheeler cargo delivery electric vehicles having 20kW or greater nominal power. In addition, Enedym will license its SRM technologies to Sona Comstar to manufacture drive motors, controllers, and drivetrains for the target vehicles exclusively in India. The mass production of these systems is likely to commence in 2023.

Electric three-wheelers are leading the transition to EVs in India. The catalyst of this conversion is the expansion in supply chain infrastructure by both eCommerce and logistic providers, combined with growth in consumer demand. The shift towards sustainable mobility is expected to continue, given lower operating costs and growth in eCommerce, creating a potentially large market for electric drivetrains.

Dr. Ali Emadi, Founder, President, and CEO of Enedym commented, “We are thrilled to announce this partnership with Sona Comstar. This collaboration will effectively bridge the gap between supplying next generation SRM motor technologies by Enedym, which require no rare earth metals, reduce cost significantly through advanced digitization, and achieve class leading performance, with a trusted and highly capable partner, Sona Comstar, to supply highly engineered automotive systems and components to OEMs. Electric three-wheelers are at the forefront of the vehicle electrification transition in India and, therefore, our combined efforts will have a significant impact both in terms of sustainability, efficiency, cost reduction, and performance improvements.”

Commenting on the partnership, Mr. Kiran M. Deshmukh, Group CTO of Sona Comstar, said, "We are excited to announce our collaboration with Enedym. This partnership opens doors for us to the inventions developed by Dr. Ali Emadi and his research group at the McMaster Automotive Resource Centre, McMaster University. Enedym's novel switched reluctance motors with advanced acoustic noise control will help us offer high-efficiency and high-performance magnet-less motors to our discerning customers. This is yet another step towards offering environmentally sustainable and cost-effective solutions to drive faster adoption of electric mobility in India and globally."

About Enedym Inc.

Enedym is a technology start-up company from McMaster University. The company is headquartered at the McMaster Innovation Park in Hamilton, Ontario, Canada. Enedym has ownership of over 60 patents and pending patent applications and related inventions developed by the Canada Excellence Research Chair in Hybrid Powertrain Dr. Ali Emadi and his research group at the McMaster Automotive Resource Centre, McMaster University.

Enedym’s vision is to significantly reduce the cost of electric motors and electrified powertrains, and power a new paradigm in electrification through novel electric motor drive technologies, controls, and digitization techniques. Enedym aspires to help save the planet, one electric motor market at a time. To learn more about Enedym, please visit www.enedym.com .

About Sona BLW Precision Forgings Limited

Sona BLW Precision Forgings Limited (Sona Comstar) is one of the world’s leading automotive technology companies. Founded in 1995, it is headquartered in Gurugram, India and has emerged as a global supplier with nine manufacturing and assembly facilities across India, the USA, Mexico, and China.

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. The company has strong R&D, engineering and technological capabilities in precision forging, mechanical and electrical systems, as well as base and application software development. It is diversified across geographies, products, vehicle segments and customers.

Sona Comstar is listed on BSE Ltd (BSE) (Code: SONACOMS/543300) and the National Stock Exchange of India Ltd. (NSE) (Symbol: SONACOMS). To learn more about Sona Comstar, please visit www.sonacomstar.com .

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