Japanese auto parts maker Musashi Seimitsu to open India's 3rd plant
NEW DELHI, NNA - Japanese auto parts maker Musashi Seimitsu Industry Co. will open its third plant in India in August to have its two existing factories focus on producing motorcycle components, which are enjoying robust demand.
Musashi Auto Parts India Pvt. Ltd., its wholly owned local unit, is building the new factory by investing about 650 million rupees ($9.3 million), Yuichiro Hata, a spokesman at the headquarters in the central Japan city of Toyohashi told NNA on Thursday.
The local arm, established in 2011, manufactures both auto and motorcycle parts at a plant in Bawal in the northern state of Haryana while producing motorcycle parts at the other plant in Bengaluru in the southern state of Karnataka.
The new plant with a floor space of 9,500 square meters is designed specifically for manufacturing auto components, he said, adding that the subsidiary will more than double the size of the factory to 22,000 square meters in the future.
At its existing plants, the Indian unit is planning to begin producing transmissions for midsize motorcycles, also in August, for supply to Royal Enfield Motors Ltd. while preparing to manufacture them for scooters produced by TVS Motor Co., according to the Japanese firm's earnings report released last week.
India's new motorcycle sales in the year to March topped 21 million units, up 53.5 percent over six years ago, while new auto sales stood at 4.38 million units, up 26.0 percent over the same period, according to the Society of Indian Automobile Manufacturers. (NNA/Kyodo)