2019.08.01NewsMusashi Seimitsu Industry Co., Ltd. (Global Headquarters: Toyohashi-city, Aichi, Japan; President and CEO: Hiroshi Otsuka) has formed a capital alliance with Zimeno Inc. (Zimeno; Global Headquarters: California, USA; CEO: Mr. Praveen Penmetsa), a Silicon Valley based venture, developing small-sized EV tractors for agriculture. Musashi has agreed to cooperate in the development of EV tractors that Zimeno will advance in the future and aim for commercialization.
Zimeno promotes the development of EV tractors under the "Monarch Tractor" brand name that can provide solutions to issues such as labor and resource shortages facing agriculture, the impact of climate change, and growing interest in crop safety. Zimeno's Monarch smart tractors are equipped with automatic navigation and information communication functions and are expected to expand their business in the future, including the vineyards in Napa Valley, California where they have already received orders.
With this investment, we will establish a potential strategic development and supply partnership with Zimeno, and we aim to develop business in the smart agriculture field, making use of the highly reliable manufacturing know-how that we have cultivated for auto parts.
Musashi Seimitsu Industry Co., Ltd. is a global auto parts Tier1 company for automobiles and motorcycles, whose headquarters is located in Toyohashi, Japan. It has 33 manufacturing sites spreading across Europe, North and South America, China, and South East Asia. Musashi specializes in designing, developing and manufacturing powertrain products such as Differential Assemblies, Planetary Gear Assemblies, Transmission Gears and Assemblies, and Reduction Gears for xEVs, which are supplied to global major OEMs and Tier1s. Linkage and suspension products are also strategic products of Musashi.
Musashi implements AI on manufacturing sites under the philosophy of "more human-friendly work" and is also working on manufacturing innovation.
Musashi is listed on the first section of Tokyo Stock Exchange (TYO: 7220).