EuroGroup Laminations Expands Footprint in Mexico with €50 Million Investment for Automotive Industry Growth
EuroGroup Laminations , a prominent electric motor component manufacturer, has unveiled a strategic investment plan of 50 million euros ($55 million) to bolster its production capacity in Mexico. The move is geared towards meeting the escalating demand in the automotive industry, where the company serves distinguished clients such as Volkswagen (VOWG_p.DE), Renault (RENA.PA), Ford (F.N), GM (GM.N), and a major U.S.-based electric vehicle (EV) manufacturer.
As a part of this substantial investment, EuroGroup Laminations has successfully established a new facility in the Mexican state of Queretaro. This strategic addition complements the company’s existing global infrastructure, which includes seven plants in Italy, along with facilities in China and the United States.
CEO Marco Arduini underscored the significance of this investment, highlighting its pivotal role in enhancing the company’s production capabilities. The objective is to meet the rapidly growing demand in the North American EV market, where EuroGroup Laminations has already secured orders amounting to 3.5 billion euros for the 2024-2028 period.
EuroGroup Laminations’ automotive order book reached an unprecedented 6.4 billion euros in October of the preceding year, showcasing the company’s robust performance and strong market position. This strategic move reaffirms the company’s commitment to staying at the forefront of the evolving electric vehicle landscape and positions it as a key player in meeting the rising demand for electric motor components in the automotive sector.
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