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Japan’s Nidec to Build Second EV Motor Plant in China
Japan’s Nidec Corp. plans to invest $500 million to build a second factory in China to make propulsion motors for electric vehicles, The Nikkei reports.
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Japan’s Nidec Corp. plans to invest $500 million to build a second factory in China to make propulsion motors for electric vehicles, The Nikkei reports.
The facility will be built in Dalian near an existing Nidec factory that makes fans for consumer electronic products. The company opened its first EV motor plant in Zhenjiang Province earlier this month with capacity to make about 600,000 motors per year. In February it said it would spend as much as $30 billion yen ($169 million) to double the complex’s output to 1.2 million units in 2020.
The new plant, whose capacity has not been announced, will go online in about 2021, a source tells The Nikkei. Nidec predicts its annual sales of EV propulsion motors in China will reach 200 billion yen ($1.8 billion) by fiscal 2025.
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