Hyundai Mobis, a global leader in automotive components and a key player in electrification technology, has announced its expansion in Europe with a significant new investment. The company has signed an agreement with the Slovak government to build a new plant for electric vehicle (EV) components in the town of Novaky, Slovakia. This development marks Hyundai Mobis’ third electrification hub in Europe, following their established facilities in the Czech Republic and Spain.
Expanding Electrification Operations Across Europe
With the growing demand for electric vehicles across Europe, Hyundai Mobis is strengthening its foothold in the continent by expanding its production of crucial EV components. The new facility in Slovakia will focus on producing PE (Power Electric) systems, a key technology that integrates electric motors and inverters to optimise the performance of electric vehicles. In addition to the new plant in Novaky, Hyundai Mobis will also invest in its existing facility in Zilina to enhance the production of braking systems and airbags.
Hyundai Mobis is already recognised for its work in the electrification space, having developed battery systems (BSA) at its facility in the Czech Republic, while another battery plant is currently under construction in Spain. This new Slovak production base will be the first European site dedicated to the production of PE systems, cementing Hyundai Mobis’ position as a key supplier of cutting-edge EV technology.
Signing Ceremony with Slovak Government
A formal agreement to establish the new plant was signed in Bratislava, with Hyundai Mobis President Lee Gyu Suk and Slovak Prime Minister Robert Fico attending the ceremony. The event was held at the Slovak Government Office, signalling strong support from the Slovak authorities for this significant investment. The project is expected to contribute to the growth of Slovakia’s automotive industry, a key sector of the country’s economy.
Speaking at the signing ceremony, Hyundai Mobis President Lee Gyu Suk stated, “With the partnership and support of the Slovak government, we are excited to expand our electrification business in Central Europe. The new plant in Novaky will play a crucial role in helping us meet the increasing demand for electric vehicle technology across the European market.”
Significant Investment and Production Capacity
The new electrification facility in Novaky represents an investment of approximately KRW 350 billion. The plant will cover an area of over 105,700 square metres, with KRW 250 billion allocated for its construction. The site is expected to be completed by the second half of next year and, once operational, will have the capacity to produce 300,000 PE systems annually, providing a major boost to Hyundai Mobis’ European supply chain.
In addition to the PE systems plant in Novaky, Hyundai Mobis has also committed KRW 95 billion to the expansion of its Zilina facility. This investment will focus on the production of advanced braking systems and airbags, further enhancing the company’s ability to support the European electric vehicle market.
Future Growth in the European EV Sector
Hyundai Mobis’ investment in Slovakia highlights the company’s commitment to expanding its electrification business in Europe. As the demand for electric vehicles continues to grow, Hyundai Mobis aims to be at the forefront of supplying advanced components that are essential for the next generation of electric cars.
With its new production facilities in Slovakia, Hyundai Mobis is well-positioned to support European automakers as they transition towards more sustainable and electrified transport solutions. The company’s strategic investments in Central Europe reflect its long-term vision for driving innovation and leadership in the global electric vehicle market.
