Japanese firm to invest $1.9 billion to build motors for EVs

Nidec Corp will make an investment of 200 billion yen on a new plant in Serbia to build motors for electric vehicles. Japanese firm to invest $1.9 billion to manufacture energy-saving electric motor technology knows as e-axle or e-drive by 2030. 

As the company is looking forward to receiving more business from automakers of electric vehicles. The Japanese manufacturer of electric motors founder Shigenobu Nagamori said that he wants a 35% market share for energy-saving electric motor technology knows as e-axle or e-drive by 2030 which is said to be expected as ten times by then too as much as $30 billion a year.

Japanese firm to invest $1.9 billion

The technology aims to make electric vehicles more affordable and manufacture zero-emission vehicles which account for 17% of global carbon dioxide emissions, according to the International Council on Clean Transportation in Washington.

Nidec is also well popular for its miniature electric motors for smartphones and other electronic devices. It acquired the automotive electronic control system producer Honda Elesys in 2014 and the automotive electronics unit of Omron Corp in 2019.

EESL to invest $5 Million in Thailand’s EV Manufacturer

India’s Energy Efficiency Services Limited (EESL) will invest $5 Million in Thailand based SWAG EV which is an electric vehicle manufacturer to catalyse energy transformation in South-East Asia.

SWAG EV provides swappable batteries for electric motorbikes in Thailand. There are around 21 million motorbikes in Thailand. E-bikes with swappable batteries most of them will be charged by solar power and they can drive the transformation to healthier cities while fighting climate change, EESL said in a statement.

The e-bike batteries will increase the capacity of the power grid to incorporate a higher share of renewable energy in its energy mix and trigger decarbonization in Thailand, it said.

“EESL will invest in SWAG EV, an emerging e-mobility player to drive the use of electric motorbikes while contributing to increasing power grid flexibility,” the statement said.

Uber to invest £5m for public EV charging stations in London

Uber has taken a pledge to invest more than £5m in public electric vehicle charging infrastructure in some of the poorest boroughs in London to help the drivers to switch to the electric cars.

Jamie Heywood, Uber’s regional general manager for northern and eastern Europe said that the £5m funding would be invested by 2023 in areas that lack the charging infrastructure they need to support electric vehicles.

At current, there are only about 1,000 Uber vehicles in London that are fully electric and the company aims that all 45,000 cars on its app should be electric by 2025.

Ford invests $1.8 billion to manufacture electric vehicles in Canada

Ford announced that it is investing $1.8 billion CAD to produce “fully battery electric vehicles” in Canada. The company’s announcement came as part of a deal between Ford and Unifor, an important general trade union in Canada, on a new national labour agreement.

The Canadian Ford employees will be benefited with this deal includes 2.5% wage increase twice over the life of the agreement and C$7,250 ratification bonus for full-time permanent employees and $500 for temporary employees, temporary employment opportunity, Reduced grow-in period for new hires from 11 years to eight years. The deal also negotiates the job security with a new deal to “transform Ford’s Oakville Assembly Complex from an internal combustion engine (ICE) site to also become a BEV manufacturing facility.”

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