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Nidec Building EV Motor Plant in China
Japan’s Nidec Corp. plans to open a factory China a year from now to make propulsion motors for locally produced plug-in hybrid, fuel cell and battery electric vehicles.
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Japan’s Nidec Corp. plans to open a 30 billion-yen ($274 million) factory in Pinghu, China, a year from now to make propulsion motors for locally produced plug-in hybrid, fuel cell and battery electric vehicles.
The plant will have capacity to supply about 700,000 electrified vehicles per year, The Nikkei reports. The company claims its motors are half the size of similarly powered conventional designs.
Nidec hopes by 2025 to capture 70% of the global market for electrified vehicle motors and generate 100 billion yen ($916 million) in annual revenue.
Last December the company announced a 50:50 joint venture with PSA Group to develop and manufacture EV motors in France. The €220 million ($267 million) facility will have capacity to build 900,000 motors per year by 2022. Nidec also acquired French electric motor company Leroy-Somer last year.
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