SOUTH KOREA: Hyundai Mobis expands Europe production
Hyundai Mobis is beginning operations at a Slovakian plant to produce core brake control systems for 600,000 cars per year.
Hyundai Mobis has completed a 3,170 sq m plant making brake modules at a cost of KRW50bn (US$46.6m), according to the Maeil Business newspaper.
The integrated production system involves processing, plating and assembly of calipers, drum brakes and hand brakes.
Hyundai Mobis previously made parts at its domestic plant in Changwon, South Gyeongsang Province, and shipped components for assembly at module plants in Slovakia and the Czech Republic to supply Hyundai Motor in the Czech Republic and Kia Motors in Slovakia.
"The new plant, ideally located in Europe for local production, will enable Hyundai Mobis cut logistics costs to boost cost competitiveness and rapidly adapt to local conditions and environments," an unnamed executive said.