ERJ - Nidec and Embraer enter JV for electric propulsion systems
2023-06-19 06:45:05 ET
- Japan’s Nidec ( OTCPK:NJDCY ) and Brazil’s Embraer ( ERJ ) to form a joint venture called Nidec Aerospace to develop electric propulsion systems for the aerospace sector.
- The transaction combines the complementary synergies and distinct areas of expertise of the engineering companies to spearhead a new era of air mobility.
- The JV will develop and manufacture the electric propulsion system for electric Vertical Take-Off Landing ((eVTOL)) vehicles, with the aim of providing the system to non-eVTOL vehicles in the future.
- The companies expect their transaction to close in H2 2023.
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Nidec and Embraer enter JV for electric propulsion systems