Commercial Vehicle Group (CVG) Announces a New Electrical Manufacturing Facility in Mexico
CVG Will Open an Additional Manufacturing Facility in Aldama, Mexico, to Support a Growing Roster of Customers in the Electric Vehicle Market
NEW ALBANY, Ohio, July 27, 2023 (Newswire.com) - CVG (NASDAQ: CVGI), a global company specializing in the design and manufacturing of electrical components, mechanical systems, plastic molded parts, and vehicle accessories across a range of industries, announced today that it opened an additional manufacturing facility in Aldama, Mexico, on Wednesday, July 26, 2023. The 90,000-square-foot building will expand the capacity of CVG's fast-growing electrical business, which designs and manufactures electrical components for some of the world's largest electric commercial vehicle brands.
"The electric vehicle market is hitting its stride, and CVG is taking another step in growing with it," said Rich Tajer, President of Electrical Systems and Enterprise CCO at CVG. "We were early to the game, and one of the few companies capable of delivering complete electrical systems — creating full-system design solutions for some of the biggest names in the industry."
CVG is experiencing rapid growth in the electric vehicle market, with more than $40 million in new wins when fully ramped year to date. The new facility in Aldama is expected to support between $90 million and $100 million worth of production in its first three years, with the potential for additional capacity in the future.
"This new facility is the next step of our growth plan, allowing us to meet the needs of our customers while giving us the opportunity to strategically scale," says Tajer. "We're excited to get started and humbled by the warm welcome from María Angélica Granados Trespalacios, the Secretariat of Innovation and Economic Development of the State; Miguel Rubio Castillo, Mayor of Aldama; and all the wonderful people of Aldama."
Located in the northern Mexican state of Chihuahua, Aldama is a city with a population of approximately 22,500 people. The new facility is expected to provide between 400 and 1,000 jobs for the region, and CVG is currently looking to the local community for talent to fill positions. Information about available positions can be found at www.cvgrp.com.
About CVG
At CVG, we deliver real solutions to complex design, engineering and manufacturing problems while creating positive change for our customers, industries, and communities we serve. Information about the company and its products is available at www.cvgrp.com.
Source: Commercial Vehicle Group, Inc.
