Nemak won contracts worth approximately US$440 million annually in 2023, 40% related to the electric vehicle components, structure and chassis (EV/EC) segment. 

The company reported that its order book for this segment ended the year at US$1.75 billion annually.

Previously, its order book went from a value of approximately US$1.05 billion at the end of 2021 to US$1.6 billion annually in 2022, which brings the company closer to its target of US$2 billion by 2025. 

In 2022, Nemak also continued to expand its presence in new product lines aimed at meeting the electrification and automotive lightweighting needs of its customers by advancing the construction of three new plants dedicated to supporting the production of battery casings for all-electric vehicles. 

Drawing on its extensive experience in providing innovative lightweighting solutions across its portfolio of VE/CE applications, the company is confident that it is well positioned to take advantage of new growth opportunities linked to the automotive electrification trend. 

On a year-on-year basis, the company’s revenues grew 7.4% in 2023, to US$4.993 billion. Its net income was US$4.4 million. It was down from $50.6 million in 2022.

Nemak

In the fourth quarter of 2023, this company’s capital expenditures were $155 million, a decrease compared to $176 million in the fourth quarter of 2022. 

These funds were mainly distributed toward new launches, particularly in the EV/CE segment, the construction of new plants and the adaptation of existing capacity. 

The company focuses on the production of complex aluminum components for the automotive industry, particularly the production of powertrain parts and components for electric vehicles, structure and chassis. 

Customers

While powertrain parts consist of engine heads, monoblocks and others, as well as transmission parts, such as gearbox, converter box and others, the engine heads and monoblock form the main structure of the engine. 

The company has a portfolio of more than 60 customers, including some of the world’s leading automotive groups and their subsidiaries, such as BMW, Ford, GM, Hyundai-KIA, Jaguar Land Rover, Mercedes Benz, Renault-Nissan, Stellantis and Volkswagen Group.