Musashi Auto, a Japanese maker of auto parts, stated on Friday that it will invest Rs 70 crore to enter the Indian electric vehicle (EV) industry.
The business has entered the e-mobility market through a partnership with Bharat New Energy Company (BNC). BNC Motors and Musashi will work together to expand into the EV industry.
In the initial stage of this project, the company will invest Rs 70 crore and concentrate on setting up an assembly line at its manufacturing site in Bengaluru.
“We have been working for over a year with our strategic partner,” said Toshihisa Otsuka, chief executive officer (CEO) of Musashi Seimitsu Industries’ India and Africa region. He was at BNC’s product unveiling launch in Bengaluru.
