Kyoto, Japan, October 6, 2023 – Japan’s Nidec Corporation (OTC: NJDCY) and Brazil’s Embraer (NYSE: ERJ) welcome the unconditional approval from all necessary regulatory authorities for the establishment of their joint venture, Nidec Aerospace LLC. The transaction combines the complementary synergies and distinct areas of expertise of two world-class engineering conglomerates to develop Electric Propulsion Systems (EPS) for the aerospace sector.
Vincent Braley, chief of staff for Nidec’s Motion and Drives business in the United States, has been appointed the CEO of Nidec Aerospace with immediate effect. Braley brings broad experience in business development and management to his new role to lead the joint venture’s future growth.
Unveiled at the Paris Air Show in June, the business combination aims to unlock new opportunities by providing an agnostic portfolio of products and services worldwide, driven initially by the growth of the Urban Air Mobility (UAM) industry. The UAM market is emerging and could create a USD 1.5 trillion market by 2040, according to Morgan Stanley Research.