Meidensha to bolster facilities for mass-producing EV parts

Meidensha Corporation (Meiden) will invest ï¿¥7 billion ($6.3 million) to expand mass-production facilities for electric vehicle (EV) parts at three of its plants.

The move will bolster Meiden's EV-related business by strengthening its production capacity for motors and inverters for EVs, whose demand is expected to surge due to environmental protection measures and regulations being implemented across the globe.

Meiden has selected its Nagoya Works as a new production hub for such parts. Existing buildings at this plant will be upgraded and mass-production lines constructed.

A new building for producing EV parts will be constructed at Meiden's wholly owned subsidiary Kofu Meidensha Electric Mfg. Co., Ltd. and existing production lines for parts at the Numazu Works will be beefed up. The expenditure will be part of the ï¿¥20 billion ($18 million) growth investment included in Meiden Group's Medium-Term Management Plan 2020 covering fiscal 2018 to 2020. Meiden will consider additional investment in tandem with the market's expansion.

Meiden will use its technological prowess nurtured as a pioneer in the production of motors and inverters for EVs to improve its mass-production facilities, while accelerating research and development of new EV parts with the aim of expanding its business in this field.