Auto demand will more than double on cheap EV models, Nidec says

Nagamori, founder of top electric motor maker, to give CEO job to President Seki

Nidec announced that founder chairman Shigenobu Nagamori, 76, will step down as CEO, with president Jun Seki assuming the position.(File photo by Hiromasa Matsuura)

MITSURU OBE, Nikkei staff writer

April 22, 2021 15:39 JST

Updated on April 22, 2021 19:59 JST

TOKYO -- Demand for automobiles will more than double as cheap electric vehicles become available in China, said an executive at Nidec, the world's largest maker of electric motors, on Thursday.