Nidec faces market pressure as founder rips ‘unfair’ China EV war

TOKYO — Cutthroat competition in China’s electric vehicle sector has cast a shadow over the earnings of suppliers like Japanese motor maker Nidec, which is grappling with narrowing margins in the key market.

China’s EV market is “unfair” and creates “unhealthy competition,” Shigenobu Nagamori, founder and executive chairman of the motor maker, said at an earnings briefing on Wednesday.