- 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.
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.
