Mumbai, Nov. 8 -- Mitsui and Co. of Japan will partner with TECO Electric and Machinery Co. Ltd of Taiwan to manufacture motors for electric vehicles (EVs) in India from next year.
The two firms plan to build a $14 million production facility in Bengaluru through their joint venture, TEMICO International. With an annual capacity of 110,000 electric motors, the unit is expected to start operations by next year end, Mitsui said on Thursday, 31 October.
While Mitsui is a Tokyo-based global conglomerate with diversified interests, including electric mobility and renewable energy, TECO is known for manufacturing industrial motors and critical parts such as traction motors and controllers for electric vehicles.
For TEMICO International, which ...