MT Autocraft inks JV with Korea’s EMTC to manufacture multi-speed EV powertrain

MT Autocraft, the parent company of the MTA E-Mobility, has inked a joint venture (JV) with Korean technology major EMTC to manufacture automatic powertrain for electric 2Ws and 3Ws. This follows the Indian auto component maker’s recent diversification into electric mobility with an investment of INR 100 crore in MTA EV. Established in 1983, MT Autocraft is a powertrain component & assembly manufacturer in India serving many Indian & Global OEMs.

– The JV will service export orders of EMTC powertrains (Minus China) for the Korean and Philippines markets.

– The JV also has a contract to supply 30,000 Bikes (as completely knocked-down units) without batteries in FY 2023-24.

MT Autocraft, the majority stakeholder in the JV, will leverage its manufacturing capabilities while EMTC will support it with technology know-how. The joint venture will indigenise and manufacture the Korean partner’s multi-speed automatic EV Powertrains for 2W & 3W at MTA EV’s newly started manufacturing facility at Palwal in the national capital region. It will manufacture four types of transmissions in India. The manufacturing facility is spread across 3.5 acres with facilities for assembly, end-of-line vehicle inspection, production monitoring, paint shop, chassis fabrication and surface coating, among others.

“We will be the first to manufacture and introduce such a multi-speed powertrain for electric vehicles in India. This technology will enhance the efficiency (range) by at least 20%,” Mr Vivek Jakhmola, Co-Founder of MTA EV, said.

The JV also has a contract to supply 30,000 Bikes (as completely knocked-down units) without batteries in FY 2023-24. These electric bikes will be manufactured at MTA EV’s facility in Palwal, Haryana. “We expect exports to contribute over 70% to the total business combining both vehicles and parts,” Jakhmola added.

According to a company statement, 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%. The space-saving due to the compact design of integrated transmission and motor in wheel hub reduces battery size to facilitate the use of LFP batteries in 2W, which are more forgiving under thermal stress than NMC cells. This will help in making vehicles safer.

Talking about the investment plans, Mr Vivek Jakhmola said, “We shall invest close to Rs 60 crore for setting tooling and plant machines in the first 12 months. Post this we shall plan for the next round of investment for expanding capacities based on market response.”

Speaking at the event, Mr Kawang Mo Seo, CEO of EMTC, said, “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 JV, which will help us get good quality products at optimum cost from India.”