EV motor maker Nidec fights for more chip buying power

KYOTO/TOKYO -- Japanese motor maker Nidec will consolidate chip purchases across its group by the end of 2022, looking to drive a harder bargain for long-term supply contracts of an essential input for the electric-vehicle industry.

Securing a stable supply of chips is critical to the company's growth plan, which aims to ramp up production of EV motor systems.