Hyundai Mobis signed an “Investment Agreement” with the Slovak Government this week at a ceremony held in Bratislava

Hyundai Mobis to establish its first European PE system production base in Novaky, Slovakia; investment agreement signed on the 15th. Plant will have an annual production capacity of 300,000 units, with completion targeted for the second half of next year.

Hyundai Mobis Co., South Korea's leading automotive parts maker, said Wednesday it has signed an investment agreement worth some 350 billion won (US$256.2 million) with the Slovak government to build manufacturing facilities for electric vehicle (EV) parts in the European country.

Hyundai Mobis, an auto parts manufacturer under Hyundai Motor Group, said Thursday that it signed an agreement with the Slovakian government to set up its first manufacturing plant for electric vehicle power systems in Europe.

Hyundai Mobis has signed an investment agreement with the Slovakian government for the construction of a new plant to produce electric drive components. The plant in Nováky is scheduled for completion by the second half of 2025.

In the safety and chassis sectors, Hyundai Mobis showcased world-first technologies in major core component areas such as airbags, lamps, braking, and steering systems.

Hyundai Mobis will set up its new production line for electric vehicle (EV) parts in Slovakia, the auto parts maker said Wednesday, to advance its position in the European power electric (PE) systems market.