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Technology

Nidec plans $2bn EV motor factory in Europe for bet beyond China

Exclusive: Serbian plant will make up to 300,000 motors a year by 2023

Nidec eyes a booming market for its electric vehicle motors in Europe due to tougher emissions standards. (Photo by Shuntaro Fukutomi)

KYOTO -- Japan's Nidec will spend about 200 billion yen ($1.9 billion) to build an electric vehicle motor factory in Serbia, Nikkei has learned, as the company looks to expand its foothold in Europe, whose EV market rivals that of China.

The motor manufacturer is apparently in the final stages of talks with local authorities on plans for the factory and an accompanying research center.

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