Hyundai Mobis to build electric vehicle parts plant in Slovakia

By Kim Dong-young Posted : October 16, 2024, 10:57 Updated : October 16, 2024, 10:57
An artist's conception of Hyundai Mobis' new electric vehicle (EV) components factory to be built in Novaky, Slovakia. Courtesy of Hyundai Mobis Co.
SEOUL, October 16 (AJP) - South Korean auto parts maker Hyundai Mobis Co. said on Wednesday it will invest about 350 billion won (US$256 million) to construct a new electric vehicle (EV) components factory in Slovakia.

The plant, to be built in Novaky, will produce power electric (PE) systems, which integrate electric motors, inverters and gear heads. It marks the company's first PE system production base in Europe, with construction scheduled to be finished in the second half of 2025.

"We will expand our electrification business opportunities in Central Europe, centered on the new PE system plant to be built in Nováky with the support of the Slovak government," said Hyundai Mobis CEO Lee Kyu-seok at the signing ceremony with Slovak Prime Minister Robert Fico.
Kim Dong-young

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