Nidec Corp will spend 200 billion yen (US$ 1.9 billion) on a brand-new plant in Serbia to build motors for electrical cars as it seeks to win more service from car manufacturers turning away from internal combustion engines, the Nikkei newspaper reported.
Nidec creator Shigenobu Nagamori has actually said he desires a 35 percent market share for energy-saving electrical motor innovation called e-axle or e-drive by 2030, which is expected to have grown ten times by then to as much as $30 billion a year.
The technology is anticipated to make electrical automobiles more inexpensive and help cut co2 emissions from automobiles which account for 17 percent of worldwide co2 emissions, according to the International Council on Clean Transportation in Washington.
The plant, which follows building and construction of an EV motor plant in China, is slated to open in 2023 with annual production of between 200,000 and 300,000 units a year, the Nikkei said.
A spokesman for Nidec declined to comment.
Nidec, likewise known for its mini electrical motors for smart devices and other electronic gadgets, acquired automobile electronic control system manufacturer Honda Elesys in 2014 and the automobile electronic devices system of Omron Corp in 2019.
It faces competition from other companies such as Japan’s Denso Corp and Aisin Seiki Corp, which last year formed a joint endeavor called BluE Nexus in 2019.
