Tuesday, July 16, 2024

LS e-Mobility Solutions Expands Footprint with New Electric Vehicle Component Plant in Mexico

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LS e-Mobility Solutions, a South Korean automotive components manufacturer, has completed the construction of a cutting-edge plant in Durango, Mexico, aimed at supplying the burgeoning North American electric vehicle (EV) market.

With a focus on providing components to major players, LS e-Mobility’s new facility spans 35,000 square meters and boasts a production capacity capable of churning out 5 million EV relays and 4 million Battery Disconnect Units (BDUs) annually. The move signifies LS e-Mobility’s strategic response to the increasing demand for locally sourced components within the North American automotive sector.

The Durango plant marks LS e-Mobility’s third manufacturing facility, following sites in Cheongju, South Korea, and Wuxi, China. The company’s clientele includes prominent names such as Stellantis, Ford, General Motors, Hyundai, Volkswagen, and Volvo.

Highlighting the company’s growth trajectory, LS e-Mobility secured a substantial contract with Hyundai worth 250 billion won (approximately 17 million euros) last August. Moreover, it surpassed the milestone of 1 trillion won in cumulative orders within just a year after its spin-off from LS Electric in April 2022.

An unnamed spokesperson from LS e-Mobility Solutions emphasized the importance of local production, stating, “In response to the needs of the North American market, which requires the establishment of local production facilities, we have built an electric vehicle parts production line in Mexico for the first time in the domestic industry.”

Chairman Koo expressed confidence in LS e-Mobility’s prospects, noting, “LS e-Mobility Solutions has boldly and quickly secured a production base in North America, the world’s largest electric vehicle market, and we expect great results.”

The move comes as investment in the electric vehicle sector gains traction, positioning LS e-Mobility Solutions to emerge as a prominent player in the North American automotive landscape.

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