Nidec and Embraer Forging Path in Electric Propulsion Systems for eVTOL with JV
- June 19th, 2023
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Nidec Corporation of Japan and Embraer S.A. (NYSE: ERJ) of Brazil have announced an agreement to establish a joint venture named Nidec Aerospace LLC. The joint venture aims to seize new opportunities in the global market by offering a diverse range of products and services, catering to the expanding Urban Air Mobility (UAM) industry.
The focus of the joint venture will be on developing Electric Propulsion Systems for electric Vertical Take-Off Landing (eVTOL) vehicles, with plans for future expansion to non-eVTOL vehicles.
Nidec Aerospace will be jointly owned, with Nidec holding a 51% share and Embraer having a 49% stake.
Eve Air Mobility (NYSE: EVEX), a prominent company in the UAM segment, will serve as the launch customer for the JV’s Electric Propulsion System.
The transaction is expected to close in the second half of 2023, subject to regulatory approvals and customary closing conditions.
On Friday, $ERJ closed at $16.62, down $0.46 (-2.69%).
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