Nidec’s Motion & Energy India holds groundbreaking ceremony for greenfield project in Karnataka India, plans to invest Rs 450 Cr ($55M)

Nidec (TSE: 6594; OTC US: NJDCY) (“Nidec ”) announced that Nidec Industrial Automation India , one of its subsidiaries, has held a groundbreaking ceremony for a new factory Campus in Hubli-Dharwad, Karnatakain the Republic of India (“India”).

1. About the Groundbreaking Ceremony
Time & date: 12.00PM to 1.00PM on Tuesday, 5th September 2023 (local time)
Place: Hubli-Dharwad, Karnataka, India
Main attendees:
Mr. Michael Briggs (Senior Vice President & President, Motion & Energy)
Mr. Anthony Pickering (President, Motion)
Mr. David Sonzogni (President, Electric Power Generation)
Mr. Girish D Kulkarni (Managing Director)

2. The Background and Concept of the New Factory Campus
Nidec makes its latest strategic global investment with a new Indian facility to support its Motion & Energy business. With three Indian facilities operating at full capacity , this expansion poises Nidec Motion & Energy for the robust manufacturing presence needed to grow in pace with India’s rapidly expanding economy, soon to be the 3rd largest in the world.

This new state-of-the-art campus will house six plants to support different segments within Motion & Energy, and will utilize advanced equipment, automation and Nidec 3Q6S lean manufacturing processes to ensure every unit manufactured is the best in class. Further, our goal is to enable the campus to become carbon neutral by 2028 utilizing many of the prevailing  technologies that currently exist within Nidec. The campus will be Nidec Motion & Energy’s fourth facility in India and the largest yet, spreading over 30 acres of land.

The campus will manufacture a wide range of motors, generators, drives, and system solutions to become the India market leader in segments including renewable energy, data center, industrial, infrastructure, and electric vehicle (EV).