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Japan's Nidec rides China EV boom by expanding machine tool output

Motor maker plans new gear equipment plant to tap surging demand

Chinese sales of passenger cars in 2021 rose 4.4% from a year earlier, helped by strong sales of electric vehicles. Nidec seeks to capitalize on the market's growth by providing machine tools used for production.    © Reuters

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.

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