Nidec Executes a Comprehensive MOU with Tata Elxsi Ltd.

Rhea-AI Summary

Nidec (TSE: 6594, OTC US: NJDCY) has signed a memorandum of understanding (MOU) with Tata Elxsi , a Tata Group company specializing in design and technology services. The partnership aims to leverage Tata Elxsi's expertise to enhance Nidec's software development capabilities, particularly in the automotive sector. This collaboration will focus on developing software for Indian and other markets, localizing Nidec products, and establishing a global software development base for the Nidec Group.

Tata Elxsi brings valuable experience in autonomous driving, electrification, and connected car solutions. With over 13,000 engineers and specialists worldwide, Tata Elxsi is well-positioned to support Nidec's expansion in software-defined vehicles (SDV) and other technological advancements.

Positive

• Strategic partnership with Tata Elxsi to enhance software development capabilities
• Access to Tata Elxsi's expertise in autonomous driving, electrification, and connected car solutions
• Potential for product localization and expansion in Indian and other markets
• Establishment of a global software development base for Nidec Group

Negative

• None.

KYOTO, Japan and BENGALURU, India, July 23, 2024 /PRNewswire/ -- Nidec Corporation (TSE: 6594) (OTC US: NJDCY) ("Nidec" or the "Company") today announced that it has executed a memorandum of understanding (the "MOU") on July 22, 2024 with India's Tata Elxsi Ltd. ("Tata Elxsi"),  a design and technology service provider.

Tata Elxsi is a Tata Group company that engages in design, technology development, system integration and software development. Tata Elxsi's technologies are adopted in autonomous driving and other types of advanced driver assistance systems, electrification, connected car solutions, and other automobile engineering-related services. It also provides services for broadcasting, telecommunications, healthcare, transportation and other industries.

The execution of the aforementioned MOU aims to enable Nidec to utilize Tata Elxsi's knowhow and resources to accelerate Nidec's group-wide enhancement of its software development capability. Furthermore, the MOU intends for the Company to develop software programs for India and other markets, and examine how to localize Nidec products, while providing support for establishing and operating a global business base for the Nidec Group's software development in the future.

Nidec stays committed to providing solutions by utilizing its comprehensive drive technology for its diverse product lineup ranging from small precision motors to ultra-large motors.

Tata Elxsi Ltd.

Tata Elxsi is among the world's leading providers of design and technology services across industries including automotive, broadcast, communications, healthcare, and transportation. Headquartered in Bangalore and part of the Tata group, Tata Elxsi works with leading OEMs and suppliers in the automotive and transportation industries for R&D, design, and product engineering services from architecture to launch and beyond.

It brings together domain experience across autonomous, electric, connected vehicle technologies, and software-defined vehicles (SDV), which is supported by a worldwide network of design studios, development centres, and offices as well as a global pool of over 13,000 engineers and specialists.

Tata Elxsi's official website : www.tataelxsi.com/industries/automotive

Nidec Corporation

Nidec is the world's leading comprehensive motor manufacturer handling everything that spins and moves."  With approximately 340 group companies engaging in business in 46 countries around the world, Nidec utilizes their respective technological capabilities to design, develop, produce, and sell a diverse lineup of products ranging from small precision motors to ultra-large motors. Nidec's motors are adopted in various fields of business, including IT device, automobile, bike, and commercial and industrial areas.  Nidec stays committed to using its technologies to provide, at an overwhelming speed, lighter, more compact and efficient products and solutions that are critical to the world.

Nidec Corporation's official website:  https://www.nidec.com/en/ 

Logo: https://mma.prnewswire.com/media/742257/Tata_Elxsi_Logo.jpg

 

 

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SOURCE TATA Elxsi

FAQ

What is the purpose of the MOU between Nidec (NJDCY) and Tata Elxsi?

The MOU aims to enhance Nidec's software development capabilities by utilizing Tata Elxsi's expertise, develop software for Indian and other markets, localize Nidec products, and establish a global software development base for the Nidec Group.

How many engineers and specialists does Tata Elxsi have globally?

Tata Elxsi has a global pool of over 13,000 engineers and specialists.

What are the key areas of expertise that Tata Elxsi brings to the partnership with Nidec (NJDCY)?

Tata Elxsi brings expertise in autonomous driving, electrification, connected car solutions, and software-defined vehicles (SDV), as well as experience in automotive and transportation industries.

When was the MOU between Nidec (NJDCY) and Tata Elxsi signed?

The memorandum of understanding (MOU) was executed on July 22, 2024.