EuroGroup Laminations Gears Up for EV Growth with Expansion Plant in Mexico

Italian electric motor component manufacturer EuroGroup Laminations (EGLA) announced a $55 million investment to expand its production capacity in Mexico to capitalize on the surging demand for electric vehicles (EVs) in the North American market.

The expansion involves the construction of a new plant in the Mexican state of Queretaro, adding to EuroGroup Laminations' existing facilities in the country.

EuroGroup Laminations specializes in stators and rotors, the crucial components that make electric motors and generators hum. With major automakers like Volkswagen, Renault, Ford, General Motors, and a leading US EV manufacturer already on their client list, the company is well-positioned to benefit from the North American EV revolution.

CEO Marco Arduini announced that the new investment would boost the company's production capacity for the rapidly growing North American EV market, securing €3.5 billion in orders for the 2024-2028 period, positioning EuroGroup Laminations as a major player in the region's growing electric vehicle landscape.