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7/23, 8:39 PM (Source: TeleTrader)
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Hitachi to build EV parts plants in US, China, Japan - report

Japanese technology group Hitachi is looking to build new plants in the United States, China and Japan by the end of 2022 to expand the production of electric vehicle components, Nikkei reported on Friday.

The move will help establish the company as a top supplier of the key EV parts since the production would expand nearly sixfold going from under a million units at each factory to several million units.

It's been reported that Hitachi is directing about $2.7 billion into the EV component sector over the short term, which includes research, development and the construction of new plants.

Breaking the News / LH