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Japanese transmission component manufacturer Musashi Auto Parts expects its Indian arm to contribute over 20% of the group’s revenue by 2030, up from the current 10-15% share. In the ongoing fiscal year, Musashi produced 7 million internal combustion engine (ICE) components annually and plans to scale up its electric vehicle (EV) production to 200,000 units per year. The company has already invested ?500 million in setting up motor and unit assembly lines, with an additional production line planned to double capacity within the next three years, according to Naoya Nishimura, CEO for India and Africa. Expanding its EV systems portfolio, Musashi is now developing motor assemblies and battery technology. The company is in the early stages of establishing a battery development center in India and is in talks with potential partners, including Indian battery firms and US startups like Sakuu, which specializes in solid-state and dry-processed electrode batteries. Despite the growing EV market, Nishimura highlighted that demand for high-capacity ICE motorcycles is expected to continue rising alongside EV adoption. Both high-end ICE and EV segments will expand by 2030, he said. Musashi is also ramping up localization efforts, particularly in steel and mechanical parts. By the next fiscal year, the company aims to localize nearly all EV-related components. Operating in India since 2002, Musashi supplies major automakers, including Honda, Royal Enfield, Yamaha, and Suzuki. |
