A Noida-based supplier of powertrain solutions for EVs, Tsuyo Manufacturing, is ramping up production and adopting automation to reach a capacity of 18–20,000 motors per month. The electric motor supplier has recently received seed funding from Ramkrishna Forgings.
Ramkrishna Forgings plans to invest around INR 100 crore in Tsuyo Manufacturing over the next five years to acquire a 51% stake.
Vijay Kumar, Co-Founder of Tsuyo Manufacturing, said, “Our current way of production is primarily supported by a 100% manual approach, while now, within 8-10 months, we are going to shift to a 30% manual and 70% automatic process to reach our required production.”
He added that the majority of CAPEX is going towards new automatic winding machines, supporting machines for stator readiness, magnet insertion machines, online interim testing machines, batch production testing setups, testing rigs, software for R&D expansion, and other vehicle-level diagnosis and integration platform software. “We are also planning to make some investments in digital interfaces and infrastructure to support after-sales and warranty management.”
The company is also looking to raise funds in the future for technological advancement and to meet phase-wise growth in production.
According to the company, it has not only considered Ramkrishna Forgings as an investor partner in lieu of fund support but is also looking forward to creating more synergy in terms of leveraging Ramkrishna Forgings’ long-established manufacturing legacy and expertise in this automotive space, which will certainly push team Tsuyo on a different orbit of growth.
Tsuyo Power Terrain has been on the market for more than two years. It has sold more than 25,000 motors for electric vehicles.
The company claims to have been the first to introduce a one-year default warranty with the mid-drive market, as well as to have created the provision of an extended warranty and made headway in the difficult market presence of cheaper imports driving the market.
Tsuyo currently sells to more than 50 OEMs in the EV market for a wide range of motors for various applications.
Also Read:
Hydrogen can be used as a fuel. It is made by splitting water with an electrical process, electrolysis. If the devices that do that, electrolysers, are powered by renewable energy, the product is called green hydrogen, a fuel free of greenhouse emissions.
The Bill addresses several energy efficiency and decarbonisation measures across the economy. These include a non-fossil-fuel mandate for designated consumers, the setting up of a carbon credit trading scheme, the inclusion of residential buildings in the new Energy Conservation and Sustainable Building Code, and increasing the purview of energy consumption standards to include vehicles and industrial units.