(Reuters) - Nidec Corp (6594.T) will add locations outside China to build motors for electric vehicles as the Japanese motor maker rethinks its supply strategy, the Nikkei business daily reported here on Thursday.
Due to the U.S.-China trade tensions, Nidec has started shipping a number of its home electronics and auto parts from Mexico instead of China, the company’s President and Chief Operating Officer Hiroyuki Yoshimoto told Nikkei on Wednesday.
The Kyoto-based manufacturer said it now plans to expand its production of traction motor system to Poland and Mexico, on top of its under-construction Chinese factory, Nikkei reported.
Nidec said it will target 100 billion yen in sales of these motors in fiscal 2022 and plans to double it to 200 billion yen by fiscal 2025.
Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Arun Koyyur