Hyundai Mobis commenced full-scale production at its first European electric vehicle powertrain system manufacturing plant in Nováky, situated in the Trenčín Region of Slovakia, on September 2, 2026, according to company announcements. The enterprise invested approximately 250 billion Korean won, equivalent to €174 million or USD 192.3 million, to establish the facility.
Plant Specifications and Capacity
The newly opened factory occupies a site area of 106,000 square meters, comparable to 15 soccer fields, with a total floor area of 8,500 square meters, per company disclosures. The site is designed to produce up to 280,000 Power Electric systems annually. These core electric vehicle driving components integrate electric motors, inverters, and reducers. The Slovak government provided approximately €26 million, equivalent to USD 28 million, in incentives for the Nováky project, according to official economic bulletins.
Strategic Role in European Manufacturing
This facility marks Hyundai Mobis' first Power Electric system factory in Europe and its third electrification production base in the region. It complements existing battery system assembly facilities located in the Czech Republic and Spain. Globally, Hyundai Mobis also operates electrification production bases in Korea, the United States, and Indonesia, per corporate historical data. The project is expected to create 310 new jobs in the Nováky region. However, the specific breakdown of these 310 jobs, such as the ratio of skilled versus unskilled positions, has not been publicly detailed by the company.
Leadership Statements and Regional Economic Impact
Hyundai Mobis President and CEO Lee Gyu Suk addressed the grand opening ceremony on September 2, 2026. To realize Hyundai Mobis' future vision, the company will continue to invest and devote efforts to establishing the Nováky Power Electric system plant as a key electrification hub in Europe, according to Lee. Looking ahead, strategic models from global automakers equipped with Hyundai Mobis Power Electric systems will lead the European electrification market, Lee stated.
The investment arrives as the European electric vehicle market experiences growth, with European electric vehicle sales increasing by 5.7 percent in the first half of 2026 compared to the first half of 2025, totaling 1,220,890 electric vehicles sold, according to market registration data. Hyundai Mobis maintains a strategic corporate goal to increase the proportion of sales to global customers to 40 percent by 2033.
Regional Transition and Stakeholder Supply Chain
While corporate leadership emphasizes manufacturing expansion, the local economic environment reflects broader industrial shifts. In October 2024, Slovak Prime Minister Robert Fico commented on the Nováky project, stating that the transformation of the region requires finding a meaningful alternative for people who have lost their jobs. The €174 million investment and the creation of 310 new jobs are crucial for regional economic transformation, particularly following the closure of a local coal mine in 2023.
Downstream, the new plant will serve as an integrated hub, supplying key electrification components to global automakers including Volkswagen, Stellantis, and Volvo, thereby strengthening the European electric vehicle supply chain, according to corporate operational briefs. The exact start date of construction for the Nováky plant was not publicly specified in company filings.
