 "Auto parts maker Musashi enters India's EV space, to invest Rs 70 cr")
Japanese auto parts maker Musashi on Friday announced its entry in the electric mobility space in India in collaboration with BNC Motors and said it will invest Rs 70 crore in the first phase of the business.
Musashi India, a wholly-owned subsidiary of Musashi Seimitsu Industries, manufactures transmission components for IC engine-powered two and four wheelers.
The company said it will use its platform of design and engineering capability to manufacture its new EV unit consisting of a motor, PCU, and gear box, it said.
The company said it will manufacture the e-Axle at its Bengaluru plant, starting October.
Musashi will spend Rs 70 crore in phase-1 to set up an assembly line for the product at its manufacturing facility in Bengaluru, it said.
We are bringing Musashi's expertise and advanced technology to the electric mobility sector in India. Our focus is to provide components that are essential for the growth and success of electric vehicles, said Toshihisa Otsuka, CEO India and Africa Region, at Musashi Seimitsu Industries.
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The company said it is expanding into e-mobility through a strategic collaboration with Bharat New-Energy Company (BNC) Motors in India.
The company has already signed an initial pact with Strom in Thailand, EV Go in Vietnam, and Arc Ride in Kenya, and will supply them e-Axle manufactured in India.