The company has set forth its vision for 2030 in the ‘2030 Long-Term Management Plan NITTOKU BX’, which began in April 2020. This seeks a business portfolio transformation by increasing the ratio of the non-internal combustion engine business compared to now.
NGK is advancing the creation of new businesses focusing on ‘Smart Health,’ ‘Decentralised Utility’ and ‘Smart Mobility’ as one of the measures to realise this vision.
In order to accelerate the creation of new businesses in these areas, the group has established a fund in Silicon Valley, USA, based on the idea that it is necessary to collaborate with venture companies with cutting-edge technologies, business models, and ideas.
Through the fund, NGK believes that the group will be able to accelerate the creation of new businesses by providing funds and business alliances to venture companies with cutting-edge technology not only in Silicon Valley but also in other regions of the USA, Europe, Israel, Asia, and other countries around the world.
Commenting on news of the fund of up to $100 million (£71.89m), NGK Spark Plugs (UK) Ltd Managing Director Marko Wowczyna said: “The announcement sends a positive message to both staff and customers and is tangible evidence of the company’s investment plans for the future.”
NGK is an original equipment (OE) supplier to most of the world’s leading vehicle manufacturers (VMs) with whom it works hand-in-hand to produce parts that are manufactured to meet their specific requirements with the same components being supplied to the independent automotive aftermarket.
For more information about NGK and its products and services, please visit www.ngkntk.com