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Electronics

Nidec eyes $10bn investment for EV motor dominance, CEO says

Kyoto-based company raises profit target amid strong computer-related demand

Automakers have started looking to suppliers like Nidec for components so they can focus on their core competence, Nidec CEO Shigenobu Nagamori says. (Nikkei montage/source photos by Hirofumi Yamamoto and Toshiki Sasazu)

TOKYO -- Nidec, the world's largest motor maker, said on Monday that it is ready to spend almost $10 billion over the next five years to dominate the market for electric vehicle motors.

The aggressive plan is meant to help the company capture 25% of the market in 2025 and 40% to 45% in 2030, the Kyoto-based company said.

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