Deep in the electric-vehicle industry’s supply chain is a little-known Japanese manufacturer that makes a seemingly mundane, but essential, device: coil-winding machines.
“We have to keep making our machines better,” said Masahiko Hoshina, vice-president at Odawara Engineering. “Our clients can’t win if they can’t differentiate their products.” Robust demand for Odawara Engineering’s machines means it will probably keep its outlook intact for the current year. The company maintained its forecast for operating profit of ¥700m and revenue of ¥14.5bn intact when it reported results in May, as the Covid-19 outbreak shuttered economies across the globe.
In 2018, Germany’s Schaeffler bought Elmotec Statomat, a winding technology company. ABB and Thyssenkrupp have joined CWIEME, a global trade and expo group for coil winding and electric motors. Odawara Engineering also competes with Tana Automation, Nittoku and China’s Changzhou Jinkang Precision Mechanism.
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