Signing of MoU Aiming for the Development of EVs Equipped with Musashi Technology
Musashi Seimitsu Industry Co., Ltd. (Headquarters: Toyohashi City, Aichi Prefecture, President and CEO: Hiroshi Otsuka, hereinafter referred to as "Musashi") has signed a new Memorandum of Understanding (MoU) with Dodai Group, Inc. (Headquarters: Addis Ababa, Ethiopia, President and CEO: Yuma Sasaki, hereinafter referred to as "Dodai"), an EV startup based in Ethiopia that specializes in the assembly and sales of two-wheeled EVs. The two companies will commence detailed discussions aimed at the development and market introduction of two-wheeled and three-wheeled EVs equipped with Musashi's technology.
During a meeting in Ethiopia, Musashi's President and CEO, Hiroshi Otsuka, met with Dr. Brook Taye, CEO of Ethiopia Investment Holdings (EIH), a government-affiliated sovereign fund. They confirmed that the Ethiopian government is vigorously promoting the adoption of EVs as clean mobility solutions to achieve carbon neutrality. Based on this meeting, Musashi plans to finalize the development content and scope by the end of the year in accordance with the MoU with Dodai. Additionally, Musashi is considering further investment in Dodai.
Furthermore, Dodai and EIH have agreed to establish a joint venture (JV) for the two-wheeled EV business in Ethiopia. They signed an MoU regarding this collaboration at a signing ceremony held on October 21, 2024. This JV aims to operate battery swap stations for two-wheeled EVs, with a goal of setting up 100 stations in Addis Ababa over the next 12 months. The new JV will own the batteries and swap stations, with Dodai managing their operations. EIH will provide stable power supply and land for the stations.
During a meeting in Ethiopia, Musashi's President and CEO, Hiroshi Otsuka, met with Dr. Brook Taye, CEO of Ethiopia Investment Holdings (EIH), a government-affiliated sovereign fund. They confirmed that the Ethiopian government is vigorously promoting the adoption of EVs as clean mobility solutions to achieve carbon neutrality. Based on this meeting, Musashi plans to finalize the development content and scope by the end of the year in accordance with the MoU with Dodai. Additionally, Musashi is considering further investment in Dodai.
Furthermore, Dodai and EIH have agreed to establish a joint venture (JV) for the two-wheeled EV business in Ethiopia. They signed an MoU regarding this collaboration at a signing ceremony held on October 21, 2024. This JV aims to operate battery swap stations for two-wheeled EVs, with a goal of setting up 100 stations in Addis Ababa over the next 12 months. The new JV will own the batteries and swap stations, with Dodai managing their operations. EIH will provide stable power supply and land for the stations.
▲ Dr. Brook Taye, CEO of EIH (left), and Yuma Sasaki, President and CEO of Dodai
At the signing ceremony, Musashi expressed its support for the collaboration between Dodai and EIH and announced its commitment to promoting the adoption of two-wheeled EVs in Ethiopia through its technology.
【About Dodai】
Dodai Group, Inc. is a global startup founded in 2021 by Yuma Sasaki, with its headquarters located in Delaware, USA. Mr. Sasaki is an accomplished executive with a track record that includes serving as the Head of Sales at Uber Japan and Vice President at Luup, a company specializing in electric scooters. Since 2023, Dodai has been focusing on Ethiopia as its primary base, aiming to expand its electric mobility business across the entire African continent.
Website： https://dodaijapan.com/index.html
【About Musashi】
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 35 manufacturing sites spreading across Europe, North and South America, China, and South East Asia. Musashi specializes in designing, developing and manufacturing products such as Differential Assemblies, Transmission Gears and Assemblies, and Linkage and Suspension (L&S) products especially for the future automobiles including electric and autonomous vehicles. Musashi is also generating and expanding new businesses through open innovation with global startups to contribute to the SDGs in wider business domains. Musashi AI, a leading-edge AI technology subsidiary to lead Industry 4.0, is one of the examples.
Website： https://www.musashi.co.jp/en/
At the signing ceremony, Musashi expressed its support for the collaboration between Dodai and EIH and announced its commitment to promoting the adoption of two-wheeled EVs in Ethiopia through its technology.
【About Dodai】
Dodai Group, Inc. is a global startup founded in 2021 by Yuma Sasaki, with its headquarters located in Delaware, USA. Mr. Sasaki is an accomplished executive with a track record that includes serving as the Head of Sales at Uber Japan and Vice President at Luup, a company specializing in electric scooters. Since 2023, Dodai has been focusing on Ethiopia as its primary base, aiming to expand its electric mobility business across the entire African continent.
Website： https://dodaijapan.com/index.html
【About Musashi】
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 35 manufacturing sites spreading across Europe, North and South America, China, and South East Asia. Musashi specializes in designing, developing and manufacturing products such as Differential Assemblies, Transmission Gears and Assemblies, and Linkage and Suspension (L&S) products especially for the future automobiles including electric and autonomous vehicles. Musashi is also generating and expanding new businesses through open innovation with global startups to contribute to the SDGs in wider business domains. Musashi AI, a leading-edge AI technology subsidiary to lead Industry 4.0, is one of the examples.
Website： https://www.musashi.co.jp/en/