Japan’s Musashi Seimitsu Industries announces E-mobility foray in India; Phase-1 investment for EV venture will be 70 Cr
New Delhi, 16 June 2023: Musashi India, a 100% owned subsidiary of Musashi Seimitsu Industries, Japan and a leading manufacturer of two-wheeler and four-wheeler transmission components in India, has announced its foray in the E-mobility space in the Indian market. Musashi will use its strong platform of design & engineering capability to manufacture its new EV unit comprising of motor, PCU, and Gear Box.
Focused on building high performance and safe auto components, Musashi will manufacture the E-Axle at its Bengaluru plant starting October 2023. Musashi will spend 70-crore in phase-1 to set up an assembly line for the product at its existing manufacturing facility in Bengaluru.
Musashi has announced expansion into E-mobility through a strategic collaboration with Bharat New-Energy Company (BNC) Motors in India. The company has already signed a MoU with Strom in Thailand, EV Go in Vietnam, and Arc Ride in Kenya, and will supply them E-Axle manufactured in India.
Commenting on the EV foray, Mr. Toshihisa Otsuka, CEO India & Africa Region said, “We are thrilled to bring Musashi's expertise and advanced technology to the electric mobility sector in India. Our focus is to provide state-of-the-art components that are essential for the growth and success of electric vehicles. We are confident that our commitment to quality and innovation will contribute significantly to the sustainable development of the Indian automotive industry."
Musashi India’s 2-wheel E-Axle achieves a slim and lightweight design by integrating motor and gearbox. With Musashi's expertise in gear processing, it achieves high transmission efficiency and low noise levels.
Musashi India's entry into the electric mobility market aligns perfectly with the government's initiatives to promote electric vehicles and reduce the nation's carbon footprint. By introducing advanced electric mobility solutions, backed with research & development and cutting-edge technology, the company aims to accelerate the adoption of EVs, address environmental concerns, and enhance the overall driving experience for Indian consumers.
“With its new venture into electric mobility, Musashi India aims to be at the forefront of the electric revolution in India and become a trusted partner for automakers, driving the transition towards a cleaner and more sustainable transportation ecosystem”, added Toshihisa Otsuka.
Besides home market in Japan, China, North America, and Europe are key markets for Musashi. The company is bullish on India market and expects a growing market share for the EV business here.
