Nidec will make a minority equity investment of $20 million in Eve Air Mobility, a manufacturer of eVTOL aircraft for AAM, through Nidec’s subsidiary, Nidec Motor Corporation.
Eve is also a launch partner for Nidec Aerospace’s propulsion system, and was established as an eVTOL development project for Embraer in 2017, before becoming a separate company in 2020.
Nidec Aerospace LLC was established as a joint venture with Embraer for the development and manufacturing of a globally competitive electric propulsion system for the aviation industry.
In its first stage, Nidec Aerospace will provide an electric propulsion system to Eve, and will later supply to other players and other non-eVTOL AAM applications. Following this investment, Embraer will still own over 80% of Eve’s shares.
Backed by the full support and certification expertise from Embraer, Eve is steadily progressing with aircraft development, with flight tests planned by the end of 2024, and type certification and start of production slated for 2026. Eve is currently raising funds and strengthening its relationships with strategic suppliers ahead of type certification, which is considered the most difficult hurdle for eVTOL commercialization.
This investment is made for the purpose of growing Nidec beyond supplying electric propulsion systems for eVTOL and into a wider range of aviation-related markets, including large industrial unmanned drones, next-generation hybrid aircraft, and next-generation electric aircraft.
The company aims to leverage its relationship with leading aircraft manufacturer Embraer to establish itself as an aviation technology leader with Nidec Group’s small, lightweight, and highly efficient motor technology. There are further business opportunities open to the company as well.
Johann Bordais, CEO of Eve Air Mobility, commented; “Our future eVTOL customers are in good hands with Nidec from take-off to touch-down. Sustainability and safety are our guiding principles at Eve, which is why we selected Nidec electric propulsion system to power our eVTOL aircraft, and why we encourage fleet operators to use Nidec electric chargers to quickly and safely charge them.”
Vincent Braley, CEO of Nidec Aerospace, added; “We view this investment in Eve as a confirmation of our confidence in Nidec’s aerospace strategy and an extension of our strategic partnership with Embraer.
“The global demand for electrified urban air mobility is expected to ramp up over the next few years, and Nidec is well-equipped to develop technology and make investments into the value chain that supports the cleaner, quieter, and more efficient travel of the future.”
