Mediawire

Bangalore (Karnataka) [India], September 7: We are fully committed to expanding our footprint in India to implement our 'India for India' and 'India for Export' strategy. Nidec Corporation is the world's leading electric motor manufacturer, with over 340 group companies and 1 lac employees worldwide. The company recorded $17B in sales last year.

Nidec's Motion & Energy Business Unit marked a significant milestone with a Groundbreaking Ceremony for an ambitious project in India at the Kotur-Belur Industrial area of Hubli-Dharwad, Karnataka.

Nidec has a robust Indian manufacturing presence with seven manufacturing bases in operation today. The eighth facility will be Nidec's largest in India, with the campus spread over 30 acres of land.

This new state-of-the-art campus will house six plants to serve different segments within Motion & Energy, and will utilize advanced equipment, automation and Nidec's 3Q6S lean manufacturing processes to ensure every unit manufactured is the best in class to support customers and partners in the region. 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 company plans to manufacture a wide range of motors, generators, drives, and system solutions to become the undisputed India market leader in segments including renewable energy, data center, industrial, infrastructure, and electric vehicle (EV).

Speaking at the Groundbreaking event, Nidec Motion & Energy President Michael Briggs expressed his enthusiasm, describing the occasion as a historic event for the company. "This is a historic day for all of us at Nidec, and we are highly excited about this project. Our global investments always have been thoughtful and strategic, and investment in India has not been an exception. Our Chairman Shigenobu Nagamori has met the honorable Prime Minister of India Narendra Modi a couple of occasions and has assured Nidec's steadfast commitment to become part of India's growth journey.

Further, Briggs said, "India's economy has grown consistently in the last couple of years and became 5th largest economy and I have no doubt it will be 3rd largest economy in the years to come. We strongly believe India's domestic market will continue to grow significantly, and we are fully committed to expanding our footprint in India to implement our 'India for India' and 'India for Export' strategies.

Girish D Kulkarni, Country Managing Director said, "Today marks a momentous occasion for the Nidec Motion & Energy India family. This upcoming world-class factory in Hubli-Dharwad is aimed at accelerating our commitment to 'Make in India' initiatives. The establishment of our new Campus reflects our strong commitment to a 'Customer-centric' approach and aims to strive for excellence in technology and sustainability to meet the dynamically changing needs of our customers and partners. We extend our gratitude to our customers for their continued trust and confidence in us, committed suppliers who have been instrumental in our growth journey and passionate and enthusiastic employees. I thank the Government of Karnataka and Invest India for their unwavering support and look forward to continued support as we make progress on this project".

This new campus will go into production at the beginning of 2025 and will create employment opportunities for around 800 people in the Hubli-Dharwad region.

(Disclaimer: The above press release has been provided by Mediawire. ANI will not be responsible in any way for the content of the same)