Meidensha to start producing EV motors in China's Hangzhou in 2021
TOKYO, NNA - Japanese electrical equipment maker and engineering firm Meidensha Corp. will start producing electric vehicle motors in China in 2021, anticipating growing local demand for emission-free cars.
Meiden Hangzhou Drive Systems Co., a wholly owned unit, plans to make 170,000 motors for electric cars per year, a spokeswoman told NNA on Friday.
The Chinese subsidiary is the Japanese firm's first overseas production base for EV motors, she said.
The local arm in the eastern coastal city of Hangzhou will start the construction of a plant in November for scheduled completion in July 2020 with the operation planned to start in March 2021.
It will also produce motors and inverters for plug-in hybrid cars in future, in addition to those for EVs, she said.
The Tokyo-based firm will inject 4.1 billion yen ($37.9 million) into the Hangzhou unit with an initial capital outlay of 150 million yen to build the plant, it said in a statement. (NNA/Kyodo