Apple suppliers Foxconn and Nidec plan to merge electric vehicles

Apple suppliers Foxconn and Nidec plan to merge electric vehicles

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  • “Currently. The majority of us [automotive] The client is an automobile manufacturer. However, in addition to the people who have sold cars so far, there are now many new entrants from other sectors, “said a former Nissan executive who was appointed CEO of Nidec earlier this year. Seki Jun said at an online press conference.

  • Nidec, a Japanese manufacturer, will spend $ 9 billion over the next five years to deepen its relationship with Foxconn in Taiwan, the world’s largest contract electronic equipment manufacturer, and increase sales of electric vehicle motors. It’s a schedule.

The joint venture between Nippon Densan and Foxconn’s automotive division is based on a partnership announced in March to develop an electric vehicle drive system. The two companies said they would conduct a feasibility study and negotiate the details of the deal by the end of the year without revealing the amount of investment in the joint venture.

In a recent deal, it has a cooperation agreement with Chinese electric car company Byton It will be manufactured for US electric vehicle designer Fisker from the latter half of 2023.

For Foxconn, it is the latest in a series of joint ventures and partnerships involving automakers in China, Taiwan and Europe. Make that way For the automobile supply chain.

Last year, we established an industry alliance called MIH to provide a complete software and hardware platform for manufacturing electric vehicles. Efforts to manufacture electric vehicles could also help Apple, its largest customer, enter the automotive market.

Nidec also has a joint venture with Stellantis, an automobile group formed by the merger of FCA and PSA, and Guangzhou Automobile Group of China.

Nidec also plans to double its sales to 40 trillion yen ($ 36 billion) by the fiscal year ending March 2026, one-third of which is expected to come from sales of automobile products. .. The Group has the ambition to increase sales to 10 trillion yen by 2030.

The key to achieving that goal is mergers and acquisitions, a characteristic strategy of Kyoto-based manufacturers that have historically expanded through aggressive cross-border acquisitions. Shigenobu Nagamori, the founder and chairman of the group, poached Seki from Nissan as a successor and strengthened the group’s commitment to automobiles.

“Throw yourself into 10 trillion yen [in sales]We need to hire relevant people and buy big companies, “Nagamori said. Asked about the M & A strategy, Seki said the company will focus on bridging the technological and geographical gaps in growing regions.

Apple suppliers Foxconn and Nidec plan electric vehicle tie-up Source link Apple suppliers Foxconn and Nidec plan electric vehicle tie-up

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