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Electronics

Auto demand will more than double on cheap EV models, Nidec says

Nagamori, founder of top electric motor maker, to give CEO job to President Seki

Nidec announced that founder chairman Shigenobu Nagamori, 76, will step down as CEO, with president Jun Seki assuming the position.(File photo by Hiromasa Matsuura)

TOKYO -- Demand for automobiles will more than double as cheap electric vehicles become available in China, said an executive at Nidec, the world's largest maker of electric motors, on Thursday.

Jun Seki, president and chief operating officer, made the ambitious forecast during an online briefing of the company's annual results.

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