In a pioneering move, Japanese electric motor manufacturer Nidec Corp. partners with Brazilian jet maker Embraer to capitalize on the expanding market for electric flying vehicle parts in the U.S. The upcoming joint venture, Nidec Aerospace LLC, will specialize in propulsion systems for electric vertical take-off landing (eVTOL) vehicles.
The newly established yet undisclosed joint venture between two leading companies aims to venture into the innovative field of flying cars. While the location of its headquarters is yet to be revealed, the buzz is that it will be settled in September in St. Louis, Missouri.
Initially, Nidec Aerospace will focus on designing propulsion systems for electric vertical take-off landing vehicles (eVTOL).
To provide high-performance motors, the Japanese automaker will contribute its technology, whereas Embraer is responsible for systems control technology. Initially, the venture will supply products to Embraer's flying car subsidiary Eve Air Mobility, which brings a fresh perspective to future transportation!
These flying cars, which operate like drones, are powered by batteries and can take off and land vertically, using multiple motors and rotors.
According to Yano Research Institute, the global flying car market is expected to reach 60.8 billion yen ($429 million) by 2025 and could soar to about 185 trillion yen by 2050.
The exciting flying cars called eVTOL vehicles, operate similarly to drones with multiple motors and rotors. These unmanned aerial vehicles use battery power to take off and land vertically. Soon, Nidec motors will power the eVTOL planes that will change our skies.
Meanwhile, Eve Air Mobility announced three key suppliers on June 18 ahead of the Paris Air Show. Besides Nidec Aerospace providing the electric propulsion system, BAE Systems will provide an advanced energy storage system. Notably, Duc Hélices Propellers will supply the rotors and props for the Eve eVTOL. Impressive, right?
According to Andre Stein, co-CEO of Eve Air Mobility, "The announcement of the first suppliers is a key milestone in the development of our eVTOL aircraft." But that's not all. "As we advance toward entry into service," Stein continues, "our goal is to make sure that we produce and deliver a mature aircraft that not only exceeds expectations but enables our customers to operate safely and efficiently with the lowest cost of operation."
Eve Air Mobility is clearly a company to watch in the aerial mobility space!
Photo: Elijah Mears/Unsplash


Asian Currencies Hold Steady as Fed Outlook Offsets Middle East Tensions
Bank of America Says These Overlooked AI Stocks Could Be the Next Winners
Super Micro Computer Stock Jumps 20% After Record AI Orders and Margin Surge
Samsung Cuts U.S. Consumer Electronics Jobs as Headquarters Moves to Texas
Tesla Stock Outlook: Strong EV Sales Boost Earnings, but AI Projects Drive Long-Term Value
TSMC Sees Multi-Year AI Chip Demand as Arizona Expansion Reaches $265 Billion
Nationwide Data Center Protests Highlight Growing Backlash Against AI Expansion
Nike Shifts China Online Sales Strategy to Boost Brand and Fight Local Rivals
Deutsche Bank Says Fed Balance Sheet Cuts Could Weaken US Dollar Instead of Boosting It
Oil Prices Extend Four-Day Rally as U.S.-Iran Conflict and Red Sea Threats Raise Supply Fears
US, China to Hold AI Talks Ahead of Xi’s September Visit
China Holds Loan Prime Rates Steady for 14th Month as Economic Recovery Remains Uneven
US Dollar Holds Near One-Week High as Middle East Tensions and Oil Prices Drive Market Sentiment
SpaceX Q2 Earnings on Aug. 4 Set Stage for Historic Insider Share Unlock
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software
Nvidia Reveals 9.3% Stake in AI Cloud Firm Nebius Following $2 Billion Investment 



