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March 9, 2020

Nidec starts construction of new EV motor plant in China

Japanese electric motor manufacturer Nidec Corporation last week began construction of a new manufacturing plant in China, as it looks to increase its exposure to the expanding local electric vehicle (EV) market.

By bcusack

Japanese electric motor manufacturer Nidec Corporation last week began construction of a new manufacturing plant in China, as it looks to increase its exposure to the expanding local electric vehicle (EV) market.

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The new JPY100bn (US$973m) factory is being built in the Jinpu New Area of Dalian city in Liaoning province.

It is scheduled to start operating in 2021 with capacity for 3.6m EV drive motors a year. 

The company announced last month it planned to double its investment in the plant following the global outbreak of the COVID19 coronavirus, from the JPY50bn investment initially announced in 2019.

Nidec is the leading investor at the newly-built Jinpu industrial part, which has a planned area of 28 sq km, and brings with it 34 supporting companies.

Igarashi Kazutsugu, general manager of Nidec (Dalian), said he was confident about the long term outlook for the Chinese EV market despite the current coronavirus pandemic and voiced his confidence in the local government.

Dalian government officials said the city "will try its best to provide services related to the construction of the new plant, help it achieve its designated production capacity as soon as possible and set a new benchmark for China-Japan cooperation".

Free Report
img

What does the future hold for the US electric vehicles market?

The US Electric Vehicles (EV) market has established itself as one to watch. Despite China maintaining the number one spot, the US holds significant standing as one of the major EV markets, with GlobalData’s whitepaper identifying a strong growth trajectory within the forecast period. This report further analyzes the trends, market drivers, and government incentives set to influence and facilitate the market.   This report also looks beyond the US and touches on environmental concerns set to drive the EV market worldwide.   Want to find out more? This report demonstrates GlobalData Explorer’s sector analysis capabilities, showing how you can:  
  • Get historical and forecast market sizing data, with country specific insight for 22+ of the world’s largest industries
  • Track sector dealmaking activity, to view aggregate volumes, specific deals and top investors for all major deal types in M&A, Capital Raising, and Partnerships
  • Analyze news from GlobalData Explorer’s News Database – enable screening and alerts by industry, company, geography and news sentiment for filtered insight
  • Identify and track the key disruptive trends that are keeping the top digital thought leaders talking through social media analytics
  Consult this report now to find out how you and your company can benefit from our Explorer platform.
by GlobalData
Enter your details here to receive your free Report.

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