Hyundai Mobis has begun mass production of Power Electric (PE) systems at a new plant in Nováky, Slovakia, marking its first European facility for the components. The 8,500-square-meter plant in the Trenčín Region produces stators, inverters and other core electric-motor components, with annual capacity of 280,000 PE systems, enough for 280,000 electric vehicles. Hyundai Mobis invested about KRW 250 billion, or $183.8 million, in the project. The facility is the company’s third European electrification production base after battery system assembly plants in the Czech Republic and Spain. Output will initially supply electric vehicles built by Hyundai Motor and Kia at their European plants, with Hyundai Mobis planning to expand its customer base to European automakers. The company aims to raise revenue from foreign automakers to 40% by 2033, compared with more than 80% of current sales coming from Hyundai Motor and Kia affiliates.