Nidec to build EV component plant in China

Japanese motor company Nidec has announced plans to build an EV component plant in the Chinese city of Pinghu. Construction is scheduled to begin in October of 2022.

The EV-dedicated plant will have 109,600 square meters (1,180,000 square feet) of production area floor space for producing and assembling gears, inverters and the company’s E-Axle traction motor system. Production is to begin in October of 2023, and the company says the plant will have an annual production capacity of 1 million E-Axles by fiscal year 2024.

Aiming at a 10 trillion-yen (about $74 billion) sales goal for 2030, Nidec says it plans to develop a production capacity of 7 million E-Axles and to sell 3.6 million E-Axles by fiscal year 2025.

Source: Nidec