Japan’s Musashi Seimitsu Industries announces E-mobility foray in India; Phase-1 investment for EV venture will be 70 Cr

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