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Nidec, GAC Form Joint Venture for EV Motors
Japan’s Nidec Corp. is forming a joint venture with China’s GAC Components Co. to provide propulsion motors to Guangzhou Automobile Group for future electric vehicles.
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Japan’s Nidec Corp. is forming a joint venture with China’s GAC Components Co. to provide propulsion motors to Guangzhou Automobile Group for future electric vehicles.
The new company, Guangzhou Nidec Auto Drive Systems Co., will be 51% owned by Nidec and 49% owned by GAC Components. The Guangzhou-based venture is capitalized at 600 million yuan ($87 million).
In addition to GAC vehicles, the partners aim to eventually supply motors for EVs produced by other carmakers. GAC Components, a subsidiary of GAC Automobiles, produces electric and interior components.
Nidec opened its own EV motor plant in Zhenjiang Province earlier this year and is planning another factory in Dalian. The supplier also recently acquired Omron Corp.’s Automotive Electronics unit, which makes control systems that will be teamed with Nidec’s motors, pumps and gears.
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