# Nidec Machine Tool breaks ground on new factory in Pinghu, China

Nidec Machine Tool (Zhejiang) Co., Ltd. held a groundbreaking ceremony for a new factory in Pinghu Economic Development Zone, with a total investment of $44 million, to produce machine tools for EV drive components.

- Type: New facility
- Announced: 2023-03-01
- Where: Pinghu Economic Development Zone, Zhejiang, China
- Value: $44.0M
- Starts operating: Jun 2024
- Status: under construction
- Products: machine tools for EV drive components
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md), [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Nidec Machine Tool (Zhejiang) Co., Ltd.](https://endata.com/companies/69071.md)
- [Nidec-Shimpo Corporation](https://endata.com/companies/36912.md) (investor)

## Sources

- [cncjcj.com](https://www.cncjcj.com/news/show-2413.html), 2023-03-11: "尼得科机床（浙江）有限公司新工厂奠基仪式在平湖经开区隆重举行"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.