EuroGroup Laminations, a manufacturer of EV motors, will increase output in Mexico
The manufacturer of electric motor components, EuroGroup Laminations, announced on Friday that it will invest fifty million euros, or $55, million, to increase the amount of goods it can produce in Mexico for the automotive sector.
Among its clients include Volkswagen, Renault, Ford, GM, and an unnamed major electric vehicle (EV) manufacturer based in the United States.
In a statement, Eurogroup Laminations stated that it had expanded its existing facilities in the Mexican state of Queretaro by building a new factory as part of the investment that was revealed on Friday.
The Milan-based company includes seven operations in Italy and facilities abroad, including ones in China and the United States. It specializes in stators and rotors, two essential parts of electric motors and generators.
The company’s CEO, Marco Arduini, stated that the additional investment will enable it to increase its production capacity for the quickly expanding North American electric vehicle industry, which has already secured orders totaling 3.5 billion euros for the years 2024–2028.
