Japanese electric motor giant Nidec plans to scale back its electric vehicle drive unit business
Nidec, a major Japanese electrical equipment manufacturer, is reportedly scaling back its electric vehicle drive unit business due to intense price competition and shrinking profit margins. The company is also considering ending its joint venture with Stellantis. In unrelated news, Kun Cai Technology reported increasing capacity utilization for its titanium dioxide and pearlescent pigment segments, and OpenAI announced a country where ChatGPT Plus is now free for all citizens. AI
IMPACT Nidec's business adjustments may impact EV supply chains, while OpenAI's free ChatGPT Plus offering could increase AI accessibility.