FREYR, a Norwegian lithium-ion battery manufacturer founded in 2018, is planning to start mass production in 2024.
The new factory will also operate as an EV-dedicated plant that consolidates the Nidec Group’s component businesses.
Nidec is looking to design and develop products locally in Serbia.
This is the second time the Nidec Group has been selected to receive this award since 2017.
As the trend of car electrification intensifies, the automotive motor market, strategically important for Nidec, is forecast to double its size – to 6 trillion yen – in 2030.
WABCO, Nidec To Create Commercial Vehicle Industry’s First Electrified Drivetrain Solutions With Fully Integrated Brake Control
Developing a fully integrated, electric drive train solution will enable breakthrough efficiencies across all operating modes for fully electric operated buses, trucks and trailers, the two companies say.
The new joint venture is named Nidec PSA emotors and will develop, manufacture and sell automotive electric traction motors.