Published On:June 24 2024
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"Musashi India to Increase EV Component Localisation to 70% by Year-End"

Musashi Auto Parts India, a subsidiary of the Japanese auto parts giant Musashi Seimitsu Industries, announced plans to significantly increase localisation of its electric vehicle (EV) components from the current 10% to 60-70% by the end of the financial year. To support this initiative, Musashi India has invested ₹160 crore for the mass production of EV two-wheeler e-axles at its Bangalore facility.

Of this investment, ₹60 crore has been allocated towards setting up new assembly lines for both motor and driving units. This funding will also be used for additional initiatives to enhance production capabilities and support the localisation efforts.

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