Japan’s Musashi Seimitsu Enters into Indian EV Market with INR 70 Crore Investment
The plan is from October this year, it will manufacture the e-Axle at its Bengaluru plant.
June 17, 2023. By EI News Network
The company will inject INR 70 crore in the first phase of this venture and intends to establish an assembly line at its manufacturing amenity in Bengaluru.
Toshihisa Otsuka, CEO of Musashi Seimitsu Industries’ India and Africa region added, “We have been working for over a year with our strategic partner”.
Musashi Auto Parts India, a fully-owned subsidiary of Musashi Seimitsu Industries in Japan, manufactures transmission components for internal combustion engine (ICE)-powered two-and-four wheelers.
The plan is from October this year, it will manufacture the e-Axle at its Bengaluru plant.
The investment of INR 70 crore will go towards the set-up of an assembly line at Musashi Auto's manufacturing amenity in Bengaluru.
The collaboration between Musashi Auto and BNC (Bharat New Energy Company) Motors is with the support of the central government enforcement of FAME II subsidies. It is intended to incentivising companies to cohere to sustainable practices in the automobile sector.
please contact: contact@energetica-india.net.
Aman Mehtani
Founder & Group CEO
ADM Group Offers Smart, Sustainable Solutions for Global Automotive Industry
Gaurav Dolwani
CEO
From Scrap to Sustainability: LICO Materials’ Circular Economy Approach
Gaurav Kumar
Head of Supply Chain and Manufacturing
Euler Motors Bridges Cost Gap Between EVs and ICE Vehicles with Localization
Shveta Arya
India Region Leader
Powering India’s Mobility Future: Cummins Showcases Advanced Power Solutions at Bharat Mobility
Samkit Shah
Co-Founder
Jitendra EV Leading Hybrid EV Revolution with Hydrix