Chinese Minth Holdings to build factory for production of electric vehicles in Indjija – Investment of EUR 870 million and jobs for 2,200 workers planned in next 10 years

At today’s session, the Government of Serbia adopted the Decision on adopting the contents of the Memorandum of Understanding between the Republic of Serbia and Minth Holdings Limited, to the end of establishing a new production facility in Serbia.

Over the ten-year investment period, the plan is to invest EUR 870 million and employ 2,220 workers.

This investment project, as announced, encompasses the establishment of new facilities for various purposes: for automotive and related industries, for the production of electric vehicles and bicycles, for the production of photovoltaic components and building materials, as well as to the end of forming a chain of suppliers in certain fields in the location in Indija.

In Serbia, the Chinese Minth already has production facilities in Loznica and Sabac.

Recently, Minth Automotive Europe, whose headquarters are in Loznica and which produces motor vehicle components, got a state subsidy of EUR 23.5 million for the expansion of production activities. The company is a member of the Chinese Minth Group, and the money is allocated for the second phase of the construction of the factory for the production of auto components in Loznica.

Also, the International Finance Corporation (IFC) recently announced that it was considering approving a loan to the Chinese company Minth Group Limited for the financing of the expansion of operations in Serbia and Poland in the field of the manufacture of casings for electric vehicle batteries.

According to the IFC data, the total value of Minth’s project of the expansion of operations in Serbia and Poland amounts to EUR 598 million, and it is said that the projects are expected to be operational by 2025. When it comes to Serbia, Minth’s plans encompass the expansion of the existing facilities of the company Minth Automotive Europe DOO (MAE) for the production of casings for electric vehicle batteries, within the existing complex in Loznica, as well as for support to the construction of three production lines in Sabac.

Vlada Republike Srbije

Minth automotive Europe doo Loznica

Government of Serbia

Minth Holdings Limited

Minth Automotive Europe

international Finance Corporation

IFC

electric vehicle manufacturing facility

manufacture of electric vehicles