Musashi Charges Ahead in India's Electric Mobility Space with Rs 70 Crore Investment
Foxconn and Musashi Compete for Dominance in India's Electric Mobility Market
17 June 2023
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Kunal Tyagi
Musashi, a Japanese auto parts manufacturer, is entering India's electric mobility sector through a collaboration with BNC Motors, investing Rs 70 crore in the initial phase.
Musashi India specializes in manufacturing transmission components for internal combustion engine-powered two and four-wheelers, but now aims to manufacture EV components like motors, PCUs, and gearboxes.
Musashi will produce e-Axles for electric vehicles at its Bengaluru plant, allocating Rs 70 crore to establish an assembly line for the product.
Japanese automotive components manufacturer, Musashi, has recently made an announcement regarding its entry into the electric mobility sector in India. The company has formed a collaboration with BNC Motors to venture into this domain. Demonstrating its strong commitment to expanding its expertise and advanced technology in the Indian market, Musashi is investing Rs 70 crore in the initial phase of this endeavor. With a primary focus on providing essential components for the growth and success of electric vehicles, the company aims to make a significant impact in the evolving industry.
Expertise in Transmission Components:
Musashi India, a wholly-owned subsidiary of Musashi Seimitsu Industries, is renowned for its specialization in manufacturing transmission components for both two-wheelers and four-wheelers powered by internal combustion engines. Leveraging its existing design and engineering capabilities, the company is now prepared to adapt and manufacture a new electric vehicle unit that includes a motor, power control unit (PCU), and gearbox. This strategic move emphasizes Musashi's commitment to staying at the forefront of emerging technologies.
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Production and Expansion Strategy:
Beginning operations in October, Musashi will commence the production of e-Axles, a crucial component for electric vehicles, at its Bengaluru plant. To accommodate this new production line, the company plans to allocate Rs 70 crore to establish an assembly line within its existing manufacturing facility in Bengaluru. These investments underline Musashi's dedication to localized manufacturing and its determination to contribute to India's electric mobility sector.
Strategic Collaborations:
Musashi's entry into India's electric mobility market is made possible through a strategic collaboration with Bharat New-Energy Company (BNC) Motors. Furthermore, the company has already entered into initial agreements with Strom in Thailand, EV Go in Vietnam, and Arc Ride in Kenya, with plans to supply them with e-Axles manufactured in India. These collaborations highlight Musashi's global vision and its intention to establish a strong presence in various markets, thereby contributing to the growth of electric mobility worldwide.
Potential Involvement of Foxconn:
Foxconn, a Taiwanese electronics manufacturer, is also exploring opportunities to enter India's electric vehicle manufacturing sector. While the company already has a partnership with electric scooter manufacturer Ather Energy, it is actively engaged in discussions with different state governments in India for further collaborations. Reports suggest that Foxconn may consider partnering with a prominent Indian automotive company, indicating its eagerness to expand its presence and contribute to India's electric mobility landscape.
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