Hyundai Mobis is bolstering its European electric vehicle (EV) component production with a new plant in Slovakia, marking its third electrification hub in the region. The South Korean auto parts maker signed an investment agreement with the Slovak government to build a facility for power electric (PE) systems in Novaky and expand its existing site in Zilina for EV braking systems.
The 350 billion won ($260 million) investment includes 250 billion won for the Novaky plant, which will span 105,700 square meters and produce 300,000 PE systems annually for the European market. An additional 95 billion won will go towards new production lines for brakes and airbags at the Zilina facility.
This strategic move comes as global automakers adjust their EV transition pace in Europe. Hyundai Mobis aims to capitalize on the region’s growing EV market, which remains the world’s second-largest after China.
The company is also expanding its EV component production globally, with new facilities planned in North America and a recently operational plant in Indonesia. These initiatives position Hyundai Mobis to meet the increasing demand for EV parts as the automotive industry shifts towards electrification.
