Musashi invests Rs 70 crore in India’s electric mobility sector
Musashi, a Japanese auto parts manufacturer, has announced its entry into the Indian electric mobility market in collaboration with BNC Motors.
The company revealed plans to invest Rs 70 crore in the company’s initial phase. Musashi India, a wholly owned subsidiary of Musashi Seimitsu Industries, specializes in the manufacture of gearbox components for two and four-wheel drive vehicles powered by internal combustion engines.
Musashi intends to use its design and engineering expertise to create an electric vehicle (EV) unit consisting of a motor, power control unit (PCU), and gearbox. The production of this e-Axle will begin in October at the company’s Bengaluru plant. Musashi will invest Rs 70 crore in the first phase to build an assembly line for the product at its Bengaluru manufacturing facility.
Musashi Seimitsu Industries CEO Toshihisa Otsuka expressed the company’s commitment to introducing Musashi’s advanced technology and expertise to the Indian electric mobility sector. He emphasized their commitment to providing critical components that will aid in the growth and success of electric vehicles.
Musashi’s entry into the e-mobility market is made possible by a strategic partnership with Bharat New-Energy Company (BNC) Motors in India. Furthermore, the company has signed preliminary agreements with Strom in Thailand, EV Go in Vietnam, and Arc Ride in Kenya. These collaborations involve the supply of e-Axles manufactured in India.
Musashi hopes to make a significant impact on India’s evolving electric mobility landscape with this venture. The company hopes to contribute to the widespread adoption of electric vehicles in various markets by combining its technical prowess with strategic collaborations.
Musashi’s commitment to establishing a robust manufacturing ecosystem for electric mobility components in India is reflected in the Rs 70 crore investment in the first phase.
Musashi is poised to play a critical role in driving the growth and success of the electric mobility sector in India and other international markets as a result of this expansion.