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Industrial motors giant Nidec is planning to build a $500 million facility in China, according to a report on Nikkei.
The factory will specialize in manufacturing motors for electric vehicles, a growing market in China and the rest of the world.
The proposed location is said to be the Jinpu New Area in the port city of Dalian, north-east China, about 500 km east of Beijing.
[Read more…] about Nidec to build $500 million facility in China to make motors for electric vehiclesIndustrial components giant Nidec has agreed to acquire Omron’s automotive business, formally called “Omron Automotive Electronics”.
The two companies do not appear to have released the financial details of the agreement, but Nikkei is reporting that Nidec will pay $890 million for the company.
The share transfer will be executed after obtaining necessary approval and satisfying other conditions. It is projected to occur by the end of October. [Read more…] about Nidec to buy Omron’s automotive business for $890 million
