This is to inform you that the subsidiary of Japanese auto parts company Musashi Seimitsu Industries, Musashi India is contemplating securing around 25 percent market share for transmission components designed for electric 2-wheelers by 2028. According to the reports, Musashi India is planning to invest crores of rupees in India in the next two or three years in its EV business. However, it is obvious that the fund will be utilized to establish new assembly lines for electric vehicle transmission components and to upgrade existing facilities. Since the CEO of Musashi India for Asia and Africa region announced that Musashi India is planning to invest further in its EV business, this news has been making headlines everywhere. Continue reading this article and go through it till the end. Drag down the page.
Reportedly, the company is planning to secure a 25 percent market for transmission components designed for electric 2-wheelers in the next three years. The chief executive officer of Musashi India, Toshihisa Otsuka, for Asia and Africa region, said, “We’re looking for market share not only in India, but also Indonesia, Thailand, and Africa. We already have big factories in Indonesia, Vietnam, and Thailand. So, we will be looking for investments for the assembly line once the customer demand is up to 100,000 units,” Shift to the next section and read more details.
In the electric vehicle business, Musashi India had invested Rs 70 crore. Now the company is planning to invest further Rs 100 crore in its electric vehicle business in the next 2 to 3 years. According to the reports, the amount will be utilized to build new assembly lines for the components of electric vehicle transmission. In addition, the fund will also be used to upgrade the existing facilities of Musashi India. Do you know Musashi India and Delta Electronics are combined working with Toyota Tsusho Corporation to sell EV drive units? Continue reading this article for more details.
Recently, Musashi India joined hands with Delta Electronics and Toyota Tsusho Corporation. Notably, Musashi India owns a majority of 51 percent of shares in this joint venture with Toyota Tsusho and Delta Electronics, which hold 14 percent and 34 percent shares, respectively. This joint venture of three companies targets to leverage combined expertise to develop cutting-edge EV drive vehicles. In this joint venture, Toyota Tsusho is handling the distribution of its units through its global logistics networks.