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Nidec Slashes Outlook on Competition in Chinese EV Market

Nidec Slashes Outlook on Competition in Chinese EV Market
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EV, Tech Supplier Nidec Plunges 10% After Disappointing Earnings

(Bloomberg) -- Nidec Corp. slumped the most in more than three years after reporting quarterly earnings that missed estimates, underscoring weakness across the global electric vehicle and electronics arenas.Most Read from BloombergAn Oil Giant Quietly Ditched the World’s Biggest Carbon Capture PlantWall Street Trading Rattled by Wild Treasury Moves: Markets WrapHostages and Hezbollah Force Israel to Rethink Gaza Ground WarTreasury 10-Year Yield Breaches 5% for First Time Since 2007Money Managers

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The World's Top Maker of Mini Motors Bets It Can Win Over Tesla

The World’s Top Maker of Mini Motors Bets It Can Win Over Tesla
Bloomberg
1/12/2021
River Davis and Yuki Furukawa
(Bloomberg) -- Nidec Corp., the world’s top supplier of motors for everything from hard drives to power plants, is betting it can make a key component for Tesla Inc.’s electric vehicles cheaper and better than anyone else, possibly including its chief executive officer, Elon Musk.
“I very much want to have a top-level discussion with Elon Musk,” Jun Seki, Nidec’s president and chief operating officer, said in an interview. Without an outside partner, Tesla won’t be able to achieve Musk’s goal of producing 20 million EVs a year by 2030, he said.

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