By Aditi Shah

NEW DELHI, Dec 12 (Reuters) - Indian auto component

maker Sona Comstar, supplier to companies such as Ford and

Stellantis ( STLA ), is in talks with carmakers in China,

Japan and South Korea as it looks to expand beyond its main

markets of North America and Europe.

In an interview, Group CEO Vivek Vikram Singh said Sona

Comstar was in "active discussions" with automakers in

these regions to supply components for electric and hybrid cars,

as well as internal combustion engine vehicles.

He did not identify the carmakers, but said he expected the

Eastern countries to contribute more than half of company

revenues in five years, compared with a 66% share now for Europe

and North America, while India makes up 28%.

"Growth through market share gains alone is no longer

enough," Singh told Reuters, adding that the company needed to

pivot to new markets.

Although the Eastern region, including India, makes up

nearly half the global car market, Sona now has a relatively

small share, he said.

Light vehicle sales in North America and Europe are expected

to shrink to 34 million units this year from 37 million in 2015,

Singh said.

In China, by contrast, sales of EVs, plug-in hybrids and

extended-range vehicles have risen 50% in 2024 on the year to

account for more than half the 20 million cars sold.

As car sales in the United States and Europe stagnate and

carmakers' electrification plans slow, Singh said the company

was looking to invest in mobility businesses beyond automobiles

as well as new technologies to grow over the next decade.

"In the last nine years, we have grown over nine times by

focusing on electrification, expanding our market share in North

America and Europe and introducing new products," Singh added.

"To multiply our current size ninefold again, we need new

approaches."

With a market valuation of more than $4.7 billion, Sona

Comstar is best known for making differential gears that enable

vehicle wheels to spin at different speeds, along with starter

motors for certain hybrids.

It has a net order book of $2.7 billion, close to 80% of

which is made up of EV components.

In it diversification push, Sona Comstar acquired Escorts

Kubota's railway equipment business this year and is

separately also investing in companies that make sensors and

telematics.