Japan’s Nidec Corporation and Brazil’s Embraer have welcomed the “unconditional approval from all necessary regulatory authorities for the establishment of their joint venture, Nidec Aerospace LLC”. The two partners say the transaction combines the complementary synergies and distinct areas of expertise of two world-class engineering conglomerates to develop Electric Propulsion Systems (EPS) for the aerospace sector.
Vincent Braley, chief of staff for Nidec’s Motion and Drives business in the United States, has been appointed the CEO of Nidec Aerospace with immediate effect according to the press release. “Braley brings broad experience in business development and management to his new role to lead the joint venture’s future growth.
“Unveiled at the Paris Air Show in June, the business combination aims to unlock new opportunities by providing an agnostic portfolio of products and services worldwide, driven initially by the growth of the Urban Air Mobility (UAM) industry. The UAM market is emerging and could create a USD 1.5 trillion market by 2040, according to Morgan Stanley Research.
“The joint venture Electric Propulsion System launch customer will be the eVTOL manufacturer Eve Air Mobility, an independent company well-positioned to be a global leader in the UAM segment by delivering an effective and sustainable new mode of urban transportation. Embraer will contribute expertise, know-how and resources pertaining to the controller, and Nidec will provide its expertise, technological know-how and resources pertaining to electric motors. Nidec owns a 51% share of the joint venture, and Embraer the remaining 49%.
“Nidec Aerospace is expected to invest more than USD 77.7 million by 2026 and start mass production in 2026.”
For more information
https://www.nidec.com/en/corporate/news/2023/news1006-01/
(Image: Embraer)