Musashi India, Delta And Toyota Sign Agreement To Enhance EVs Sale

- Advertisement -
- Advertisement -
  • This partnership may establish a motor and drive unit assembly factory within the Musashi Bangalore plant by September 2024.
  • Musashi aims to supply EV drive units to a wide range of customers

Musashi Auto Parts India has signed a contract with Delta Electronics and Toyota Tsusho Corporation to enhance the sale of EVs for two-wheeled vehicles in India. Musashi and Delta will develop an EV drive unit with Toyota Tsusho managing distribution via its global logistics network.

In this joint venture, Musashi has a majority stake of 51%, Delta holds 34%, and Toyota Tsusho possesses a 15% investment share.

This partnership may set up a motor and drive unit assembly factory within the Musashi Bangalore plant by September 2024. The products manufactured will also be exported to the ASEAN & African markets.

- Advertisement -

Commenting on the JV, Hiroshi Otsuka, President and Group CEO of Musashi Seimitsu Industries said, “The Indian market is one of the largest two-wheeled market and the emissions from these vehicles cause serious environmental harm; a reason for increased acceptance of electric mobility in two-wheeled market in India. By supplying EV drive units, this JV will lead the spread of two-wheeled EVs in the Indian market and worldwide, while also contributing to the realization of carbon neutrality.”

This strategic collaboration represents a significant, mutually beneficial alliance, encompassing the creation, production, and distribution of a cutting-edge, compact, lightweight, and noise-efficient high-performance drive unit, a crucial component for electric vehicles. Moreover, it will facilitate swift and adaptable research and development, staying ahead of market and technological shifts, and streamlining procurement and sales by capitalizing on the distinctive business strengths of Musashi, Delta, and Toyota Tsusho.

“We have the advantage of having the world’s top share in transmissions for two-wheeled vehicles, and by leveraging synergies with Delta Electronics, a leading manufacturer of electronic equipment, and Toyota Tsusho, which has a global logistics network, we are bringing ground-breaking EV adoption to India and the world. We will provide solutions which will support in our mission of realizing a prosperous global society where people and the environment are in “harmony”; we will lead the spread of clean electric mobility by supplying high-performance EV drive units”, Hiroshi Otsuka added.

In the Indian market, Musashi India is working with BNC, an EV startup company in which Musashi has invested and collaborated to develop products equipped with EV drive units. The company has agreed to start selling two-wheeled EVs from February 2024 ,and going forward, it aims to supply EV drive units to a wide range of customers, with the main target being the 125cc class, which is the volume zone for motorcycles in the Indian market.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exclusive

Sameer Aggarwal, Founder and CEO, RevFin

“We Have Maintained A Net NPA Rate Below 1%!”

0
Maintaining a low non-performing asset (NPA) rate is considered one of the key factors determining the success of an NBFC (non-banking financial company) operating...

Six Steps To Building Better Business Assets

0
In the journey of asset-building, solving good problems trumps battling bad ones. Dive into six essential steps for building and leveraging effective assets—the game-changer...

India’s Solar Capacity Installation Down By 44.1%, Delayed Projects To Add To 2024 Installations

0
Large-scale solar installations saw a notable decline of 50.8% YoY to 5.8 GW from 11.7 GW in 2022, constituting 77.2% of the annual capacity...

Buzz

NTPC Starts Commercial Operation Of 70 MW Chhattargarh Solar Project

0
The project is designed to produce 370 million units of energy annually, which is equivalent to powering 60,000 households. NTPC Renewable Energy Limited (NTPC REL)...

Noida’s Vervesemi Announces Made-In-India ASIC

0
The newly developed chip, proudly made in India, targets domains such as weighing scales and Force Touch technologies. A fabless semiconductor company based in Noida,...
GlobalFoundries and Qualcomm

Qualcomm Doubles Investment In India, Plans To Invest $1Bn

0
Qualcomm has the largest number of engineers working out of India, with nearly 17,000 of its global workforce of around 40,000 based in the...

Important Sectors

Sameer Aggarwal, Founder and CEO, RevFin

“We Have Maintained A Net NPA Rate Below 1%!”

0
Maintaining a low non-performing asset (NPA) rate is considered one of the key factors determining the success of an NBFC (non-banking financial company) operating...

NTPC Starts Commercial Operation Of 70 MW Chhattargarh Solar Project

0
The project is designed to produce 370 million units of energy annually, which is equivalent to powering 60,000 households. NTPC Renewable Energy Limited (NTPC REL)...

Nasdaq Welcomes Lotus Tech With Modest Rise Post SPAC Deal

0
Lotus Technology's Nasdaq debut sees a 2% share increase post-merger with L Catterton-backed SPAC, marking a $7 billion valuation amidst a challenging EV market...

Log9, Trinity Cleantech Team Up for Interoperable Charging Network

0
They aim to lead the way in advancing Type 6 fast chargers, the next-gen standard for speed and convenience. Trinity's Thunder Platform will integrate...

BYD YangWang U9 Debuts at $236,000: 0-100 km/h in 2.36s, LFP Battery

0
BYD Co. launched its priciest vehicle, a fully-electric supercar costing 1.68 million yuan ($233,450), on Sunday, competing with gas-powered counterparts from brands like Ferrari...

Manufacturing

GlobalFoundries and Qualcomm

Qualcomm Doubles Investment In India, Plans To Invest $1Bn

0
Qualcomm has the largest number of engineers working out of India, with nearly 17,000 of its global workforce of around 40,000 based in the...

Applied Ventures Funds VVDN Technologies

0
The investment demonstrates Applied Ventures' dedication to promoting innovation, collaboration, and entrepreneurship within the semiconductor and electronics manufacturing sectors. Applied Ventures, LLC, the venture capital...

Haryana EV-CO To Manufacture L3, L5 EVs At New Plant

0
The EV maker is self-funded and operates a modern manufacturing facility with cutting-edge technology and equipment. It specializes in producing two and three-wheelers, with...
Sona Comstar

Sona Comstar: First Indian Auto Supplier With PLI Certification

0
Sona Comstar, a leading EV traction motor manufacturer in India, receives PLI certification for its electric two-wheeler traction motor. Sona BLW Precision Forgings, commonly known...

Indian Manufacturers To Get Chinese Mobile Production Orders

0
Dixon has secured an order from Oppo for making phones, with an order size of around 5-6 lakh units per month.  Chinese firms have finally...