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MUSASHI ENTERS INDIA EV MARKET
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Japan's Musashi B&C Motors has announced plans to enter the Indian electric vehicle (EV) market.
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Japan's Musashi B&C Motors has announced plans to enter the Indian electric vehicle (EV) market.
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The plant is expected to have an annual production capacity of 100,000 units.
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Musashi B&C Motors plans to launch its first EV in India in 2024.
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The company is targeting the growing demand for EVs in India, which is expected to reach 10 million units by 2030.
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Musashi B&C Motors is a subsidiary of Musashi Seimitsu, a Japanese auto parts maker.
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The company's EV plant in Tamil Nadu will be its first outside of Japan.
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Musashi B&C Motors plans to invest a total of $500 million in India over the next five years.
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The company is also planning to set up a research and development center in India.
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