June 17, India: Musashi, a Japanese auto parts manufacturer has announced its arrival into India’s electric mobility sector in association with Bharat New-Energy Company (BNC) Motors. The company has earmarked a noteworthy investment of ₹70 crore in the initial phase. Musashi India, a fully-owned subsidiary of Musashi Seimitsu Industries, has been primarily engaged in the production of transmission components for two and four-wheelers powered by internal combustion (IC) engines.
With its expertise in engineering and design, Musashi Seimitsu intends to design an electric vehicle manufacturing unit comprising of a motor, PCU, and gearbox. The manufacturing of this e-Axle will commence at the company's plant in Bengaluru from October this year. To facilitate this endeavour, Musashi claims to allocate this investment in order to establish an assembly line at its Bengaluru manufacturing facility.
As per the official press release by the company, Toshihisa Otsuka, CEO of India and Africa Region at Musashi Seimitsu Industries, signified the company's commitment to introducing Musashi's advanced technology and expertise to the Indian electric mobility market. He further emphasised on providing essential components that will contribute to the growth and success of electric vehicles in the country.
As part of its strategic collaboration with BNC Motors, Musashi is further expanding its footprint in the global electric mobility market. Additionally, the company has already secured initial agreements with Strom in Thailand, EV Go in Vietnam, and Arc Ride in Kenya to ensure the supply of e-Axles manufactured in India.
With this venture, Musashi intends to make a prominent impact on India's evolving electric vehicle industry. By unifying its technical progress and strategic collaborations, the company seeks to have a major hand in the widespread adoption of electric vehicles across different EV markets. Further, this funding reflects Musashi's commitment towards establishing a robust manufacturing system for electric vehicle components in India. Moreover, with this massive investment, Musashi is set to play a vital role in driving the growth of the electric mobility sector in the country and in other international markets. This strategic decision indicates their recognition of the growing prominence of EVs and their commitment to meeting the evolving market demands.