Musashi India enters EV space

Mumbai: Japanese auto parts maker Musashi on Friday announced its entry in the electric mobility space in India in collaboration with BNC Motors and said it will invest Rs 70 crore in the first phase of the business. Musashi India, a wholly-owned subsidiary of Musashi Seimitsu Industries, manufactures transmission components for IC engine-powered two and four wheelers. The company said it will use its platform of design and engineering capability to manufacture its new EV unit consisting of a motor, PCU, and gear box, it said. The company said it will manufacture the e-Axle at its Bengaluru plant, starting October. Musashi will spend Rs 70 crore in phase-1 to set up an assembly line for the product at its manufacturing facility in Bengaluru, it said.