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The European Commission approved a joint venture between Musashi Auto Parts India Private Limited, Delta Electronics, and Toyota Tsusho Corporation to supply automotive components, particularly electric propulsion systems for two-wheeled electric vehicles in India.
Musashi Auto Parts India, Delta Electronics and Toyota Tsusho formed a joint venture, Musashi Delta e-Axle India Private Limited, to develop and sell EV drive units for two-wheelers in India. The JV will establish motor and drive unit assembly factories within Musashi's Bangalore plant, targeting over two-thirds localization by September 2024.