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Nidec to invest $7bn-plus in EV motors, CEO Nagamori says

Japanese maker expands research and development, including in Bulgaria

Nidec Chairman and CEO Shigenobu Nagamori said the company will need up to 5,000 technical experts. (Photo by Kosaku Mimura)

KYOTO -- Nidec plans to invest a total of 1 trillion yen ($7.21 billion) in its E-Axle electric motor systems by around fiscal 2030, Chairman and CEO Shigenobu Nagamori told Nikkei, in its bid to become the world's top player in the field.

The adoption of electric vehicles will rapidly accelerate starting in 2025, according to Nagamori, and Nidec continues to invest aggressively in related areas. E-Axles -- packaged systems that integrate a motor, inverter and transmission -- are seen as key to reaching the goal of 10 trillion yen in revenue by fiscal 2030.

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