Japan’s Exedy Corporation has announced its decision to invest in Omega Seiki Private Ltd., a company engaged in the development, manufacturing, and sales of electric mobility solutions based in India.
The company has not announced the quantum of investment and the stake it would pick up in Omega Seiki.
“Moving forward, we will collaborate on the development of electric vehicles equipped with our proprietary high-efficiency electric drive units, which consist of motors and continuously variable transmissions (CVTs). Through this partnership, we aim to promote electrification in India and contribute to achieving carbon neutrality,” the company said in a statement available on its website.
“At Exedy, we strive to ‘create fulfillment for society’ by contributing to the creation of a decarbonised society. Through our investment in Omega Seiki, we aim to provide new electric mobility solutions,” the company added. Omega Seiki develops, manufactures, and sells electric two-wheelers, three-wheelers, and small trucks in India. With manufacturing bases in northern and western India and a dealer network, the company focuses on sustainable transportation and working to improve new technologies to promote electric vehicles in the country.
Published - May 23, 2024 09:29 pm IST
