Israel: SoftWheel is strengthening its position in the automotive sector through partnerships with leading Tier1 and Tier2 automotive players. The investment by and collaboration with Musashi Seimitsu (TYO:7220), a global automotive Tier1 manufacturer, partly owned by Honda Motor Company, will ensure the highest standards of manufacturing of SoftWheel’s automotive systems and will support its successful market penetration.
Musashi’s investment is part of SoftWheel’s third round of investment, which includes existing and new financial investors, as well as additional automotive strategic partners. The current round represents a market valuation of half a billion ILS for SoftWheel.
SoftWheel’s cutting-edge technology fuses the drivetrain, suspension, e-motor, steering and brakes into the wheel. It, therefore, provides a significant reduction in volume, weight, and energy consumption. SoftWheel’s disruptive in-wheel technology is recognized as the enabler of future vehicle platforms including EV, hybrid and autonomous vehicles.
Musashi is a global, multibillion-dollar Japanese Tier1 company with 30 manufacturing sites worldwide and a strong innovative spirit that specializes in the production of drivetrain and suspension systems.
“I am thrilled to embark on this collaboration with Musashi, which brings strong engineering and manufacturing value to SoftWheel. Their unique corporate culture and innovation spirit are a perfect match for SoftWheel and we look forward to an exciting journey together to shape the future of transportation,” says Daniel Barel, CEO of SoftWheel.
“We see great interest coming from automotive components manufacturers, as well as OEMs who recognize and value our technology and revolutionary solution. As a technology company, we are looking to partner with the world’s best automotive components manufacturers, such as Musashi, to bring our technology to market,” he adds.
Hiroshi Otsuka, CEO of Musashi, says, “SoftWheel brings a unique solution to future automotive platforms and we are enthusiastic about the opportunity to work with such an innovative team. Our technology is poised to lead the future of automotive transformation and we look forward to the opportunity to work together with SoftWheel to develop and manufacture this solution for OEMs.”