KYOTO, Japan -- Japanese manufacturer Nidec will invest 50 billion yen ($433 million) to increase Chinese production of machine tools used to make gears, Nikkei has learned, as the company expands beyond its mainstay motors to cash in on Beijing's electric vehicle push.
Nidec will build a plant in the Zhejiang Province city of Pinghu, a production hub for Nidec Machine Tool, which the Japanese company acquired from Mitsubishi Heavy Industries in August. The facility is slated to come online as early as spring 2023.
