Japan’s Nidec to enter flying vehicle motor business via JV
Japanese electric motor maker Nidec Corp. said Sunday it will set up a joint venture with Brazilian regional jet manufacturer Embraer in the United States to tap the growing demand for electric flying vehicle components.
Nidec will take a 51 percent stake in Nidec Aerospace LLC and will develop electric propulsion systems for the aerospace sector, with the remainder to be owned by the Brazilian partner.
The companies did not disclose the amount of capital required, but did say the new entity will establish a base in St. Louis, Missouri as early as September.
Nidec Aerospace will initially manu...