ST. LOUIS — Nidec Corp., the Japanese manufacturer of electric motors, and Brazil-based aircraft maker Embraer are creating a new joint venture that will be headquartered in St. Louis with a focus on developing electric systems for emerging aircraft that have been described as “flying cars.”
The joint venture between Nidec Corp. and Embraer (NYSE: ERJ) will create a new company, Nidec Aerospace LLC, to provide electric propulsion systems for aerospace companies. Nidec will own 51% of Nidec Aerospace, with Embraer having a 49% stake in the new firm.
“We are proud to be partnered with Embraer, and are confident that Nidec Aerospace will spearhead the electrification of aircraft with our shared drive, complementary expertise, and wide breadth of technical and manufacturing capabilities,” said Michael Briggs, senior vice president and president of the motion and energy business unit at Nidec.
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