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Automobiles

Nidec to buy Mitsubishi Heavy unit, bolstering EV motor business

Japan motor maker boosts know-how on drive systems with $285m acquisition

A parking spot at an electric-car charging station. Nidec is strengthening its operations in motors for these vehicles.   © Reuters
SHUNTARO FUKUTOMI and AZUSA KAWAKAMI, Nikkei staff writers | Japan

KYOTO/TOKYO -- Japanese motor maker Nidec will buy a Mitsubishi Heavy Industries unit, seeking crucial expertise in producing electric vehicle components through a deal estimated at 30 billion yen ($285 million), Nidec announced Friday.

The announcement confirms Nikkei's earlier report on the agreement. 

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