Minister of Economy Goran Knezevic signed a Memorandum of Understanding with Xingyu Automotive Lighting Systems and Mayor of Niš, Darko Bulatović on May 7th stipulating an investment worth about EUR 50 million, which will enable the creation of 1,000 jobs.
The Chinese company is planning to build a factory that will produce lighting parts for the automotive industry. Minister Knezevic also said that the company would bring new technologies to the automotive industry.
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“This investment will give a new impetus to Serbia’s economic growth, and once production is launch, that would benefit our exports too. I am confident that our friends from China will be satisfied with business conditions here and our motivated workforce,” the Minister added.
The construction of the factory is supposed to start in 2020 and the products manufactured here will be exported mainly to Germany, France and Slovakia.
Xingyu Automotive Lighting Systems also plans to establish cooperation with other major carmakers such as BMW, Volkswagen, Audi, Peugeot, Renault, Opel and others. Xingyu Automotive Lighting Systems is one of the world’s leading manufacturers of lighting for the automotive industry and has developed special technological solutions for this industry. It currently has close to 5,000 workers who are employed in five factories – in China, Germany and Japan.
This post is also available in: Italiano