The Italian industry is once again at the top of the rankings for importance and blazon. That’s right, since Euro Group boasts a gigantic and important American manufacturer among its new customers. Who is Euro Group? It is a company based in Baranzate, near Milan, very expert in the production of fundamental components for electric motors: stator and rotor. Two “pieces” that cannot but be part of and exist on a green engine. With the strong demand for electric cars around the world, orders to Euro Group have increased to incredible levels. The latest agreement would lead to a turnover spread over several years of 300 million euros.
The expansion plan
Euro Group has clearly already put into action a policy of expanding the production area. It will start with a new 3,500 square meter warehouse. The CEO, Marco Arduini, told Sole 24 Ore that he is not worried about whether or not the aforementioned agreement will materialize. In fact, it seems that “if that doesn’t arrive, there are already 3 or 4 other big names ready to knock on Euro Group’s door “. In the last two years, the turnover has increased from 404 million to 580 million. Adding up all the orders, an increase of up to 2.5 billion in value is expected.
It is also interesting to find out how this market (components), although little known, is doing dizzying numbers. In Norway, in August, eight out of ten cars sold had Euro Group components on board, and we are talking about the homeland of electric cars. At this moment, the Euro Group share is around 40% worldwide, and is destined to rise. In the last three years, investments have been made in personnel, with 400 new employees, and another 100 planned for the new headquarters where the components will be assembled. A paluso to the Italian company therefore.