Continental Automotive Serbia, a subsidiary of the German automotive giant Continental AG, opened in Kać, near Novi Sad, a car electronic devices factory in which 140 million euros has been invested.
Construction of the 30,000-square-metre production plant began in June 2021 and it will initially employ around 400 people, while Continental’s management is planning to invest an additional 150 million euros and create 1,500 more jobs.
The company plans to generate over 1 billion euros in exports in the first two years of operation, which is expected to be over 2 billion after year three.
This is Continental’s second factory in Serbia and its largest factory in Europe.
The company’s factory in Subotica, ContiTech Fluid, which was opened in 2013, employs 1,300 people. Over five years ago, Continental opened a research and development centre in Novi Sad where some 1,000 specialists design products for the global market.
The opening of the factory in Novi Sad was attended by Serbian President Aleksandar Vučić who said that, in two years’ time, Continental would be the first or the second largest exporter from Serbia.
Continental Automotive Serbia’s general manager, Saša Coringa, said it was a great success that Continental’s automotive solutions created in Serbia by Serbian experts would bear the „Made in Serbia“label.
On the occasion, the German Ambassador to Serbia, Anke Konrad, said that Germany was Serbia’s first trade partner in terms of value and that German companies in Serbia were elevating standards in technology and business culture.
(eKapija, 24.02.2023)
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