Hyundai Mobis starts EV powertrain production in Slovakia

Hyundai Mobis has begun mass-producing electric powertrain systems at a new plant in Slovakia, its first such facility in Europe, as it strengthens its foothold in the region’s electric vehicle market. The company invested about 250 billion won ($184 million) in the Novaky plant, which can produce 280,000 power electric, or PE, systems annually. A PE system combines an electric motor, inverter and reducer into a single powertrain unit. Hyundai Mobis held an opening ceremony Wednesday attended by