Delhi Delhi: Apple supplier TDK has partnered with McLaren Racing in Formula E electric motor racing, as the Japanese component maker aims to expand into the electric vehicle sector.TDK, once famous among consumers for its cassette tapes, The world's largest supplier of smartphone batteries. It is expanding its passive components and sensors businesses and aims to build its presence in the EV supply chain.
An executive said the company's technology is used in the Nissan e-4ORCE 05 cars used by McLaren, and TDK would consider supplying components such as inverters and sensors. Taro Ikushima, CEO of TDK's electronic components business company “Formula E technology is always at the cutting edge of EVs and we want them to use our components so we can further improve our technology,” he said in an interview.
Automotive accounts for about a quarter of TDK's total sales. Founded in 1935, the company is a leading supplier of components such as ceramic capacitors and temperature sensors. While many fans are associated with the distinctive sound of Formula One's internal combustion engine , interest in Formula E is growing. While the pace of the widespread transition away from gasoline vehicles is debated, Toyota President Akio Toyoda believes the global share of EVs will reach 30 percent.
TDK sees opportunity across the spectrum with plug-in hybrid and battery electric vehicles, which use 60 percent and 100 percent more multilayer ceramic chip capacitors, respectively, than gasoline cars. “Safety, durability, longevity, these are very are important factors and can be applied to other industries as well,” Ikushima said. TDK shares are up 39 percent this year, outperforming a 13 percent rise in Japan's broader Topix index.
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