Japan Based Nidec and Embraer Receive Nod For Joint Venture
Nidec Corporation of Japan and Embraer of Brazil are pleased to announce that their joint venture, Nidec Aerospace LLC, has received unconditional permission from all essential regulatory agencies. The merger unites two world-class engineering firms' complementing synergies and different areas of competence to develop Electric Propulsion Systems (EPS) for the aerospace market.
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, as per business wire.
“This approval marks a significant milestone not only in Nidec Motion & Energy’s joint venture with Embraer, but also in our shared vision to advance and electrify the way the world travels,” said Michael Briggs, Senior Vice President and President of the Motion & Energy Business Unit at Nidec. “Now with official clearance to proceed, the Nidec Aerospace team is poised to bring the expertise, speed, and drive needed to accelerate sustainable aviation on a global scale.”
The corporate combination, which was announced at the Paris Air Show in June, intends to create new opportunities by offering a global portfolio of agnostic goods and services, first driven by the rise of the Urban Air Mobility (UAM) market. According to Morgan Stanley Research, the UAM industry is growing and might reach USD 1.5 trillion by 2040.