Latest news with #MitsuyaKishida
Mint
16-07-2025
- Automotive
- Mint
Nidec Builds Made-in-China EV Motor to Help Toyota Catch Rivals
Japan's Nidec Corp. is building an almost totally 'made-in-China' electric car motor to help Toyota Motor Corp. compete in the world's largest auto market, according to Chief Executive Officer Mitsuya Kishida. About 99% of the materials and parts in the E-axle motor are from China, said Nidec president Kishida. Building the integrated motor was 'incredibly tough,' he said in an interview last week. Nidec began supplying the motor for Toyota's electric bZ3X sport utility vehicle, which went on sale in March from about 110,000 yuan , and has sold about 20,000 units so far, according to a Toyota spokesperson. The car — the first Toyota vehicle to use this motor — is part of the company's push to turn around its fate in the world's No. 2 economy, as Chinese carmakers capture market share from global rivals. Using mostly Chinese parts allows the company to cut costs and helps reduce the price of the final car, which is necessary to compete in the Asian nation's ultra-competitive auto market. The new motor is also aimed at reviving the fortunes of fellow Japanese company Nidec, whose poor profitability and falling stock price are fueling investor discontent. Over the past five decades, the precision-motor manufacturer had sought growth through acquisitions, buying 75 companies and running about 250 factories, said Kishida, who earlier this year announced a restructure after taking the top job in 2024. 'Before we seek large growth in revenue we have to get our current business under control and get a more efficient structure,' he said at the opening of a new factory in Qingdao, northern China. The plant — which makes motors, compressors and electronics for home appliances — is an example of that, combining two older facilities from different business units in a new $100 million manufacturing hub. That restructuring may include selling some businesses, Kishida said, adding this would improve the image of the company for shareholders and hopefully boost the stock price. The Qingdao investment is a rare example of a Japanese company adding substantially to its presence in China, at a time when many others are cutting back as the nation's economic growth slows and global trade tensions rise. Net new Japanese investment into China was up about 3% in the first five months of this year, after rising about 6% last year, according to data from Japan's Ministry of Finance. Toyota is another firm bucking that trend, announcing a new factory in Shanghai for its Lexus brand in April, with that investment reported at around $2 billion. Kishida expressed confidence Nidec could also cooperate on that project, noting the company already supplies various other car parts to Toyota. With assistance from Yuki Furukawa, Masatsugu Horie and Nicholas Takahashi.
Business Times
16-07-2025
- Automotive
- Business Times
Japan's Nidec builds made-in-China EV motor to help Toyota catch rivals
[TOKYO] Japan's Nidec is building an almost totally 'made-in-China' electric vehicle (EV) motor to help Toyota Motor compete in the world's largest auto market, according to chief executive officer Mitsuya Kishida. About 99 per cent of the materials and parts in the E-axle motor are from China, said Nidec president Kishida. Building the integrated motor was 'incredibly tough', he said in an interview last week. Nidec began supplying the motor for Toyota's electric bZ3X sport utility vehicle, which went on sale in March for about 110,000 yuan (S$19,704), and has sold about 20,000 units so far, according to a Toyota spokesperson. The car, the first Toyota vehicle to use this motor, is part of the company's push to turn around its fate in the world's No 2 economy, as Chinese carmakers capture market share from global rivals. Using mostly Chinese parts allows the company to cut costs and helps reduce the price of the final car, which is necessary to compete in the Asian nation's ultra-competitive auto market. The new motor is also aimed at reviving the fortunes of fellow Japanese company Nidec, whose poor profitability and falling stock price are fuelling investor discontent. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Over the past five decades, the precision-motor manufacturer had sought growth through acquisitions, buying 75 companies and running about 250 factories, said Kishida, who earlier this year announced a restructure after taking the top job in 2024. 'Before we seek large growth in revenue we have to get our current business under control and get a more efficient structure,' he said at the opening of a new factory in Qingdao, northern China. The plant, which makes motors, compressors and electronics for home appliances, is an example of that, combining two older facilities from different business units in a new US$100 million manufacturing hub. That restructuring may include selling some businesses, Kishida said, adding this would improve the image of the company for shareholders and hopefully boost the stock price. The Qingdao investment is a rare example of a Japanese company adding substantially to its presence in China, at a time when many others are cutting back as the nation's economic growth slows and global trade tensions rise. Net new Japanese investment into China was up about 3 per cent in the first five months of this year, after rising about 6 per cent last year, according to data from Japan's Ministry of Finance. Toyota is another firm bucking that trend, announcing a new factory in Shanghai for its Lexus brand in April, with that investment reported at around US$2 billion. Kishida expressed confidence that Nidec could also cooperate on that project, noting the company already supplies various other car parts to Toyota. BLOOMBERG
Japan Times
16-07-2025
- Automotive
- Japan Times
Nidec builds made-in-China EV motor to help Toyota catch rivals
Japan's Nidec is building an almost totally "made-in-China' electric car motor to help Toyota compete in the world's largest auto market, according to Chief Executive Officer Mitsuya Kishida. About 99% of the materials and parts in the E-axle motor are from China, said Nidec president Kishida. Building the integrated motor was "incredibly tough,' he said in an interview last week. Nidec began supplying the motor for Toyota's electric bZ3X sport utility vehicle, which went on sale in March from about 110,000 yuan ($15,350), and has sold about 20,000 units so far, according to a Toyota spokesperson. The car — the first Toyota vehicle to use this motor — is part of the company's push to turn around its fate in the world's No. 2 economy, as Chinese carmakers capture market share from global rivals. Using mostly Chinese parts allows the company to cut costs and helps reduce the price of the final car, which is necessary to compete in the Asian nation's ultra-competitive auto market. The new motor is also aimed at reviving the fortunes of fellow Japanese company Nidec, whose poor profitability and falling stock price are fueling investor discontent. Over the past five decades, the precision-motor manufacturer had sought growth through acquisitions, buying 75 companies and running about 250 factories, said Kishida, who earlier this year announced a restructure after taking the top job in 2024. "Before we seek large growth in revenue we have to get our current business under control and get a more efficient structure,' he said at the opening of a new factory in Qingdao, northern China. The plant — which makes motors, compressors and electronics for home appliances — is an example of that, combining two older facilities from different business units in a new $100 million manufacturing hub. That restructuring may include selling some businesses, Kishida said, adding this would improve the image of the company for shareholders and hopefully boost the stock price. The Qingdao investment is a rare example of a Japanese company adding substantially to its presence in China, at a time when many others are cutting back as the nation's economic growth slows and global trade tensions rise. Net new Japanese investment into China was up about 3% in the first five months of this year, after rising about 6% last year, according to data from Japan's Finance Ministry. Toyota is another firm bucking that trend, announcing a new factory in Shanghai for its Lexus brand in April, with that investment reported at around $2 billion. Kishida expressed confidence Nidec could also cooperate on that project, noting the company already supplies various other car parts to Toyota.
Bloomberg
16-07-2025
- Automotive
- Bloomberg
Nidec Builds Made-in-China EV Motor to Help Toyota Catch Rivals
Japan's Nidec Corp. is building an almost totally 'made-in-China' electric car motor to help Toyota Motor Corp. compete in the world's largest auto market, according to Chief Executive Officer Mitsuya Kishida. About 99% of the materials and parts in the E-axle motor are from China, said Nidec president Kishida. Building the integrated motor was 'incredibly tough,' he said in an interview last week.
Time of India
21-05-2025
- Automotive
- Time of India
Nidec starts work on 3rd plant in Neemrana, to invest 450cr
Nemrana: started construction of its third in the Japanese zone of Neemrana reflecting its Japanese parent 's confidence in India and Rajasthan for future growth. The company had started its manufacturing at Neemrana in 2016. Tired of too many ads? go ad free now Keiji Oshima, managing director of Nidec India, said, "It showcases the confidence of Nidec Japan in India. We have steadily expanded our business in India, from motors for automotive sector, to white goods and now to manufacture specifically, ." The new factory, which will be operational by Sept 2026, will manufacture technologically advanced automotive components for electric power steering motors, park lock actuators, electric water pump, electric oil pump, BLDC engine cooling fan motors. Speaking on the future plans of the company in India, CEO of Nidec Corporation, Mitsuya Kishida, said, "Our Motion and Energy (MOEN) business will launch of a mega campus having five plants within the Hubli Dharwad on June 2. This campus represents investments of $55 million and aims to achieve carbon neutral by 2027". Similarly, Mr. Kishida said, "Our Global Appliance (ACIM) business is investing $150 million in Maharashtra. A MoU for acquiring 50-acre land was signed with Maharashtra govt." With the Japanese zone in Neemrana getting saturated, RIICO appealed to the Japanese investors to look at second dedicated zone at Ghiloth developed for them. At the ground-breaking ceremony of Nidec India's third plant, RIICO MD Shivangi Swarnkar said, "A second industrial zone has been developed at Ghiloth, near Neemrana, covering around 200 hectares, to further strengthen the region as a strategic hub for Japanese industries." Tired of too many ads? go ad free now Currently, the Japanese industrial township hosts more than 51 companies, representing a cumulative investment of about Rs 6,500 crore, and generating employment for over 26,000 individuals. Ambassador of Japan to India, Keiichi Ono, said Nidec's strategic investment in growth sector and the ability to swiftly respond to the market needs outlines Nidec's strong and visionary leadership.
