On the evening of June 22, Chongqing Landai Technology (002765), which has dual main businesses of touch screen and automobile transmission, announced that the company has recently signed a “Strategic Cooperation Agreement” with Nidec Corporation (hereinafter referred to as “Nidec”). With the goal of common development and long-term cooperation, a strategic consensus will be reached on strategic cooperation in the fields of electric drive systems and reducer assemblies and components for new energy vehicles facing the global market, valid for three years.
On June 22, Landai Technology closed at 8.84 yuan, up 0.91%, with a turnover rate of 4.77%, a dynamic price-earnings ratio of 23.38, and a total market value of 5.15 billion yuan.
According to reports, Nidec was established on July 23, 1973, and was listed on the first section of the Tokyo Stock Exchange in September 1998. The company is a global comprehensive motor manufacturing enterprise. Since its establishment, it has established more than 340 branches in more than 40 countries around the world; its product lines cover automotive, home appliances, communications, industrial automation, logistics, 5G communications, etc. In the field, it provides various motor products ranging from precision small motors to super large motors for its local and international advanced OEMs. In the Chinese auto market, it cooperates with Geely Automobile, GAC Group and other OEMs in R&D and production.
In 2020, Landai Technology cooperated with Nissan on new energy vehicle parts and components; in June and November of the same year, the company obtained the notification of supplier selection for two projects of Nissan’s new energy vehicle parts, becoming the Its new energy reducer gear shaft parts project product supplier. According to the orders issued by Nidec Automotive Motor (Zhejiang) Co., Ltd. and Nidec Totest (Zhejiang) Co., Ltd., the subsidiaries of Nidec, the company will start batches of the above customers from August 2021 and October 2021. Supply of new energy reducer gear shaft parts products. In May 2022, the company once again obtained the supply of the new energy vehicle parts project of Guangzhou Nidec Auto Drive System Co., Ltd., a joint venture of Nissan and Guangzhou Automobile Parts Co., Ltd., a subsidiary of GAC Group. The company selected the letter of intent to become the supplier of its new energy reducer gear shaft parts project. At present, the project products have been delivered as samples.
According to the agreement, in the process of providing high-quality products and services for well-known brand automakers to the global market, Nidec’s products are under the same conditions in terms of performance, quality and delivery, and have obvious advantages in cost. Under the circumstance, it will have the right to give priority to the use of Landai’s products and services; on the premise that Landai’s products and production capacity fully meet the needs of Nissan, Nissan will fully consider ensuring the company’s supporting share; When selecting third-party products, assist in designating the company’s products as the second-level matching of third-party products. During the cooperation, Landai makes full use of its own product resources in research and development, manufacturing, quality management, after-sales service and other aspects of its resources and practical performance capabilities to ensure that all projects related work in the process of strategic cooperation are in place.
Landai Technology said that the signing of the above agreement is in line with the company’s long-term strategic development plan in the new energy vehicle business, aiming to deepen and expand the in-depth cooperation with Nidec in the field of new energy vehicle power transmission, and strive to achieve mutual benefit and win-win cooperation. , creating a good situation for the company to further expand the layout of the new energy vehicle parts field, which is conducive to expanding the company’s business scale and market share in the new energy vehicle field, and enhancing the company’s market competitiveness and profitability.