The groundbreaking ceremony for the factory held in an industrial park in Corregidora City, Queretaro State, Mexico on August 2nd. From the third left: Kim Ki-nam, LS EVM Management Officer; Koo Bon-kyu, CEO of LS Cable & System; Mauricio Kuri, Governor of Querétaro State; Marco Del Prete, Minister of Development; Adolfo Colin, Mayor of Corregidora City. Courtesy: LS Cable and System

South Korea-based cable manufacturer LS Cable and System announced the groundbreaking of two new factories on August 2nd, 2024, in Queretaro, Mexico.

The two new factories would focus on producing bus ducts and electric vehicle (EV) battery components respectively. The factories are located on a 126,000 sqm site in an industrial park. Initially announced in May 2024, the factories are expected to begin mass production in the second half of 2025.

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The bus duct is intended to be supplied to factories for electric vehicles, batteries, semiconductors, and data centres. LS Cable plans to use the Queretaro plant as an export base for the North American markets, including the United States and Canada.

According to the official PR, the company chose Mexico to take advantage of low labour costs and to benefit from the United States-Mexico-Canada Agreement (USMCA). It will be the fourth bus duct production base following factories in Gumi, Wuxi, and Ho Chi Minh City.

“The bus duct market in North America is growing rapidly with the construction of large-scale data centres and factories for semiconductors, electric vehicles and batteries. We expect bus duct sales in North America to reach $100 million by 2030,” said an official of the company.

Last month in July 2024, LS Cable also announced a new $680m subsea cable plant in Chesapeake, Virginia. The new facility will create 330 jobs and commence operations by the end of 2027.

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Headquartered in Seoul, LS Cable and System operates in the Americas, Europe, the Middle East, and Asia. It has around 6,000 employees globally.