- The JV will manufacture first of its kind multi-speed automatic powertrains for e-2Ws and e-3Ws,
- The new technology can boost speed by 50% and range by 20%,
- MT Autocraft’s e-mobility venture MTA EV to invest INR 60 crore in the JV for setting up tooling and plant machinery in phase-1,
- Manufacturing will be at MTA EV’s plant in Palwal, Haryana,
- The JV also has the contract to supply 30,000 e-bikes as CKD in 2023-24,
- Expects exports to contribute 70% of the JV’s total business,
New Delhi: MT Autocraft, the parent company of the MTA E-Mobility (MTA EV), has inked a joint venture (JV) with the Korean technology major EMTC to manufacture automatic powertrain for electric two-wheelers and three-wheelers, the company announced at an event here on Wednesday.
This follows the Indian auto component maker’s recent diversification into electric mobility with an investment of INR 100 crore in MTA EV. The JV is a major step towards beefing up its local electric vehicle (EV) manufacturing echo-system.
“We will be the first to manufacture and introduce a multi-speed powertrain for EVs in India. This technology will enhance the efficiency (range) by at least 20%,” Vivek Jakhmola, co-founder, MTA EV said.
The joint venture will indigenise and manufacture the Korean partner’s next generation multi-speed automatic EV powertrains for 2Ws and 3Ws at MTA EV’s newly-started manufacturing facility at Palwal in the national capital region.
About investment plans, Jakhmola said, “We shall invest close to INR 60 crore for setting up the tooling and plant machines in the first 12 months. Post this we shall plan for the next round of investment to expand capacities based on market response.”
The multi-speed automatic transmissions coupled with optimum spec motor and controllers bring to the table the knowledge of the cutting edge powertrain’s design and function, he added.
Boost to Exports
MT Autocraft, the majority stakeholder in the JV, will leverage its three-decades of manufacturing capabilities while EMTC will support with technical knowhow.
It will manufacture four types of transmissions in India. As a buy-back arrangement, the JV will service export orders of EMTC (Minus China) for the Korean and the Philippine markets.
The JV also has the contract to supply 30,000 e-bikes (as completely knocked down units) without battery and over 100,000 transmission systems in FY24.These electric bikes will be manufactured at MTA EV’s state-of-art facility in Palwal, Haryana.
Kawang Mo Seo, CEO EMTC, said at the event, “We are pleased to join hands with MT Autocraft group for our India dream. We look towards India for optimum cost and high quality products. It is a natural alliance since MTA EV has big plans for EV and we will support it with our technologies for transmission. We have also contracted our import requirements to the JV which will help us get good quality products at optimum cost from India.”
The offering, expected to be a game-changer in the world’s largest two-wheeler market, would be the first-of-its-kind for the two-wheeler and three-wheeler segments and will bring significant values of cost and efficiency to the end-customer.
“We expect exports to contribute over 70% to the total business combining both vehicles and parts,” Jakhmola added.
Advanced technology for range, speed
The new transmission will enhance the range of the vehicle by 20% by improving the mileage per charge. It will augment the top speed by 50% making the ride more enjoyable for the end- user.
By facilitating the right sizing of motor and battery it will make the transmission smooth and effortless making the ride pleasant for the rider.
The automatic transmission enables higher efficiency and givs a better feel during the ride. The space saving due to the compact and first-of-its-kind-design of integrated transmission and motor in wheel hub reduces battery size and facilitates the use of LFP batteries in 2W which are more stable under thermal stress than NMC cells. This will help make vehicles safer, preventing any mishaps such as a fire incident.