Hyundai Mobis (KRX:012330) began the full scale mass production of power electric (PE) systems at its new production base in Slovakia, the South Korean auto parts manufacturer said in a Thursday press release.
A PE system is an integrated electric powertrain that brings together an electric motor, inverter and reduction gear, the release said.
The new facility covers about 106,000 square meters, with a total floor area of 8,500 square meters. It manufactures stators, inverters and other components, with annual capacity of up to 280,000 PE systems, it said.
Shares of Hyundai Mobis rose nearly 2% at market close.