HNHAF - Nidec Foxconn to form a joint venture for EV motor production

Scott Olson/Getty Images News Nidec (NJDCY) will establish a joint venture with Taiwan's Hon Hai technology group, known as Foxconn (HNHAF), for EV motor production, according to Nikkei Asia sources. Nidec is a Japanese manufacturer and distributor of electric motors. The company has the largest global market share for the tiny spindle motors that power hard-disk drives. Nidec has developed as an auto industry disrupter by agreeing to supply drive motors to EV makers, including Chinese upstarts, Foxconn and Apple.

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Nidec, Foxconn to form a joint venture for EV motor production