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Hyundai Mobis to Establish Battery Plant in Spain for Volkswagen

Korea Economic Daily LogoKorea Economic Daily1 mo ago

Hyundai Mobis to Establish Battery Plant in Spain for Volkswagen - Korea Economic Daily

Quick Summary:

NAVARRA, Spain -- Hyundai Mobis Co.said on Wednesday it has broken ground for an electric vehicle battery plant in Spain for stable supply to Volkswagen, after it secured a battery system assembly (BSA) order from the German carmaker last year, purportedly worth billions of dollars.

The BSA produced at the plant will be supplied exclusively to Volkswagen to charge its next-generation EVs manufactured at a factory in Pamplona, Spain, 14 kilometers away from the Hyundai Mobis' facility.“The new plant in Spain means our entrance into the Western European market and will serve as a dedicated facility for Volkswagen,” Hyundai Mobis said in a statement".

We are committed to being Volkswagen's long-term partner with stable auto component supplies and will strive to diversify our customer base in Europe," said Jung In-bo, who will head the Spanish plant of Hyundai Mobis.


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Article Details

Category: Economy

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-24 @ 11:08:40 (1 months ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 371 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 19 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 20775613

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Official Website: kedglobal.com

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Headquarters: South Korea

News Last Updated: 7 minutes ago

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Publisher ID: #91

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