The shares of Nidec Motor, a previously stable, 50-year-old Japanese company, fell 11 per cent on Tuesday, their biggest daily drop in 15 years.
The alarming move reflects the pace at which the automotive industry is changing. The business models of vehicle parts makers can prove unsustainable in their current form, even if they are early adopters.
Electric cars require about a third fewer parts on average than conventional cars. Powertrain manufacturers urgently need to shift their focus to changing demand for electric car parts and batteries. The striking reality is that this includes motor maker Nidec, previously seen as a prime mover in the EV revolution.
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