Hyundai Mobis has opened a new plant in Slovakia to produce power electric systems for electric vehicles (EVs), strengthening its production network in Europe amid the region’s growing electrification demand, the auto parts maker said Thursday. The facility, located in Novaky in western Slovakia, is the Korean auto parts maker’s first PE system plant in Europe and its third electrification production base on the continent. The company already operates battery system assembly plants in the Czech Republic and Spain. The new plant has an annual production capacity of up to 280,000 PE systems. Power electric systems integrate three major components of an electric powertrain — an electric motor, an inverter and a reduction gear. Hyundai Mobis invested about 250 billion won ($184 million) in the facility, which occupies a site of about 106,000 square meters. The plant includes production lines for stators, a core component of electric motors, as well as inverters and other electric powertrain components. The company said the facility will serve as a regional production hub supplying Hyund