EUR 180mln worth of investments in automotive industry

After the news broke that companies Rivian and InoBat will open their branches in Serbia, the Ministry of Economy announced a series of investments in the automotive industry that were contracted in December and should create over 400 new jobs in four locations.

A total of 420 people will be employed as a result of investments in Stara Pazova, Novi Sad, Jagodina and Surdulica, the Ministry stated, and the total value of the investments will amount to 180 million euros. These projects are also supported by the Ministry of Economy, according to the announcement.

Nidec Electric Motor Serbia will invest the most – 93 million euros by 2026. The company produces electronic parts for motor vehicles and its factory is based in Novi Sad.

On the other hand, the smallest of the five announced investments will be used in the construction of an actuator production plant in Jagodina. Schiebel Components is the investor and the investment is worth 2 million euros.

In addition, Muehlbauer Automation will build a new factory that will produce battery and fuel cell machines in Stara Pazova (a EUR 29.5 million investment) and Knauf Insulation will produce insulating materials in Surdulica (a EUR 17 million investment).

In January 2023, the Ministry of Economy will start the joint implementation of investment projects with the companies AKU Italia Srl (Milotex d.o.o.), Flammat doo, Natura Trade (third re-investment) and Don Don d.o.o. (second re-investment).

(Bloomberg Adria, 26.12.2022)

This post is also available in: Italiano

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