Vivek Vikram Singh
Category winner: Entrepreneurial CEO
Shaping the future of mobility
Vivek Vikram Singh, a management graduate from IIM, Ahmedabad, joined the Sona Group as the Group CFO & Head - Strategy in 2015. Since then, he had been strategizing to prepare the automobile ancillary major for a future when electric vehicles (EVs) will replace the traditional ICE vehicles.
Vivek spearheaded the company’s foray into the EV segment. In 2019, Sona BLW acquired Comstar Automotive to add electrical, electronics and software capabilities to develop and expand into new EV products, and the company was renamed as Sona Comstar. Sona now supplies various EV products to global customers and earns 23% of its revenues from the segment. This acquisition and electrification drive led the company to witness a four-fold revenue growth in the last five years and in FY21 it clocked a revenue of INR1,566 crores.
The numbers speak for themselves. Today, Sona is the largest manufacturer of differential gears for OEMs in India, with a market share of about 90% in commercial vehicles, 60% in passenger vehicles, and 85% in the tractors segment. Additionally, the company has gained a global market share across various product categories.
Vivek also has laid strong emphasis on R&D. The company has spent around INR150 crores on R&D in the last three years. It has 186 R&D engineers working across various new product developments across the three state-of-the-art R&D centres in Gurugram and Chennai. With the increasingly strong R&D capabilities, the company is working toward building innovative solutions for the future of mobility.
Recognizing Vivek’s efforts in the growth of Sona Group, Economic Times featured him in the prestigious “40 under 40” list in 2018. Earlier this year, Sona Comstar won the VCCircle Awards 2022 under the ‘Industrial Company of the Year’ category.