EuroGroup expands EV components plant in Mexico

According to Reuters, the company’s customers include Volkswagen, Renault, Ford, GM and an “undisclosed US-based major maker of electric vehicles.” EuroGroup Laminations has seven plants in Italy and production facilities in Mexico, Tunisia, China and the US.

CEO Marco Arduini says the new investment in Mexico will help the company increase its production capacity for the fast-growing North American EV market, where the company has already secured orders worth 3.5 billion euros for 2024 to 2028. EuroGroup Laminations’ total order backlog in the automotive sector totalled a record 6.4 billion euros in October last year.

The company first invested in production facilities for EV components in 2016 and has since grown. The site in question in the Mexican state of Querétaro already covers 21,000 square metres. It is now being expanded by around 10,000 square metres to produce components for electric vehicles.

“We are proud to inaugurate the new Mexican plant in Queretaro and thus strengthen our production capacity for the North American EV market for rapid growth to execute orders already received for over 3.5 billion Euro to be delivered between 2024 and 2028,” says Marco Arduini, CEO of EuroGroup Laminations. “We are working on the basis of a growth plan that will allow us to increase production by reducing manufacturing time. We also continue to invest in new processes and cutting-edge technologies to ensure unique solutions and the highest quality standards.”

reuters.com, euro-group.it (PDF)