Nidec’s Motion & Energy India holds Groundbreaking Ceremony for greenfield project in Karnataka India, plans to invest Rs 450 Cr ($55M)

Hubli-Dharwad, India - September 6, 2023 - Nidec Corporation (TSE: 6594; OTC US: NJDCY) (“Nidec Group”) announced today that Nidec Industrial Automation India Private Limited, one of its subsidiaries, has held a groundbreaking ceremony for a new factory Campus in Hubli-Dharwad, Karnatakain the Republic of India (“India”). 
Nidec Group makes its latest strategic global investment with a new Indian facility to support its Motion & Energy business. With three Indian facilities operating at full capacity today, this expansion poises Nidec Motion & Energy for the robust manufacturing presence needed to grow in pace with India’s rapidly expanding economy, soon to be the 3rd largest in the world.