EV motor maker EuroGroup Laminations to expand production in Mexico – ET Auto

baua

EV motor maker EuroGroup Laminations to expand production in Mexico – ET Auto



EuroGroup Laminations’ automotive total order book amounted to a record 6.4 billion euros in October last year, the company said.

Electric motor component maker EuroGroup Laminations said on Friday it would invest 50 million euros (USD 55 million) to expand its production capacity in Mexico to serve the automotive industry.

The Italian company has Volkswagen, Renault, Ford, GM and an undisclosed U.S.-based major maker of electric vehicles (EVs) among its clients.

Eurogroup Laminations said in a statement that, as part of the investment announced on Friday, it had built a new plant in the Mexican state of Queretaro, adding to the facilities it has already there.

The Milan-based group – which specialises in stators and rotors, two core components of electric motors and generators – has seven plants in Italy while its facilities abroad also include ones in China and United States.

CEO Marco Arduini said the new investment would help the company boost its production capacity for the rapidly growing North American EV market, which has already ensured it orders worth 3.5 billion euros for the 2024-2028 period.

EuroGroup Laminations’ automotive total order book amounted to a record 6.4 billion euros in October last year, the company said.

  • Published On Jan 13, 2024 at 02:40 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETAuto App

  • Get Realtime updates
  • Save your favourite articles


Scan to download App


Is Volvo backing down from its promise to go all-EV by 2030?

Volvo’s EV commitment is in question after CEO Jim Rowan’s recent comments. As one of…

The 2024 GMC Sierra EV’s lease price will give you sticker shock

Photo: GMC Based on the latest incentive data, the 2024 GMC Sierra EV lease price…

Pre-order discount on MOD’s new Berlin 3 e-bike, Jackery SolarSaga 100 Prime 0 off, Greenworks 1-day discounts, more

Leading today’s pack of Green Deals is a new addition to MOD Bikes’ ongoing summer…