Japan's Nidec to End Joint Venture with China Automaker

Kyoto, May 18 (Jiji Press)--Major Japanese motor maker Nidec Corp. has started talks to dissolve its electric vehicle drive system joint venture with Chinese automaker Guangzhou Automobile Group Co., informed sources said Monday.

The move marks a shift from the expansion strategy championed by Nidec's founder, Shigenobu Nagamori.

The venture produces E-Axle systems consisting of e-motors, reducers and inverters.

Nidec has aggressively expanded the business through mergers and acquisitions.

The company is also considering an exit from its E-Axle venture in the Netherlands with European auto giant Stellantis NV, the sources said.

[Copyright The Jiji Press, Ltd.]