Nidec and Embraer team up for flying car parts and electric propulsion.
Nidec and Embraer are forming a joint venture called Nidec Aerospace to manufacture parts for flying cars. The new company will be based in St Louis and will utilize existing factories of both firms in Brazil and Mexico. Nidec will hold a 51% stake in the company, while Embraer will hold 49%. No mention was made of the capital amount in the statement.