Commercial Vehicle Group announces two new plant sites in Morocco, Mexico

CVG announced two new plant locations: one in Tangier, Morocco, and another in Aldama, Mexico. Both locations are expected to employ approximately 1,000 new employees each, and production is targeted for Q3 of 2023. These plants are a cornerstone in CVG’s strategy of expanding its electrification systems business. CVG will deploy its proprietary electrical systems manufacturing processes in these new plants, which will act as hub-and-spoke setups with CVG’s other electrical systems locations. This shared SG&A structure amongst the multiple plants will further minimize cost structure, maintain nimbleness, and increase response times. In Mexico, CVG is already a large employer with over 3,000 employees in the country, and the new Aldama location will add an additional 1,000 employees. The new facility will provide additional support to North America and emerging markets, and focus on production of high- and low-voltage wire harnesses for the electric vehicle, medical and aerospace market segments. CVG is also underway with identifying a new location in the Asia Pacific region for its electrification business expansion.