KYOTO, Japan -- Japanese motor maker Nidec has pivoted to the artificial intelligence sector for growth after reeling from China's ultracompetitive electric vehicle market, with investors taking notice.
Shigenobu Nagamori, Nidec's founder and executive chairman, criticized the cutthroat market for E-Axle motor systems during an earnings presentation in April, citing major subsidies offered to BYD and other Chinese EV makers by Beijing that lower margins for parts suppliers.
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