The state of Serbia will grant subsidies of 7.06 million euros to the Chinese company Finestamping Technology for the construction of a factory producing automotive industry components in Apatin. The facility will manufacture electric motor cores for vehicles, Nova Ekonomija reported today.
Finestamping Technology produces components and additional equipment for motor vehicles and has facilities in China. In December 2025, it signed a contract with the Serbian Ministry of Economy committing to employ 150 workers on permanent contracts in Serbia by the end of 2028.
Finestamping Technology is owned by the company Finestamping Technology Company Limited and is part of the Zhenyu Group. At the time of submitting the application for funding, it had no employees. The funds will be granted by the Ministry of Economy of Serbia, while the company is required to invest at least 47.1 million euros.
Under the contract, the company has committed to paying salaries that are at least 20 percent higher than the minimum wage in Serbia, which is common practice for companies seeking state subsidies.
The funds will be paid in four instalments in dinar equivalents. The first instalment will be paid in 2026 in the amount of 1.95 million euros, after the company provides proof that it has fulfilled its investment obligation of 25 million euros and has employed three new workers on permanent contracts.
The second instalment is expected to be paid in 2027 in the amount of 840,028 euros after the company invests nine million euros and employs seven new workers.
The third instalment should be paid in 2028 in the amount of 2.39 million euros after the company invests 10 million euros and employs an additional 70 workers.
The fourth instalment should be paid a year later in the amount of 1.8 million euros, after the company fulfils its investment obligation of 3.1 million euros and employs another 70 workers.
Finestamping Technology was registered in Serbia on 4 April 2024 as a company for the manufacture of other parts and accessories for motor vehicles.
According to the contract, the company’s main markets are the EU countries.
In 2023, the company recorded an estimated consolidated revenue of 771.6 million euros and employed around 6,028 workers within the group.
(Biznis.rs, 04.03.2026)