Japan’s group Nidec Corporation will invest 200 billion yen ($1.9 billion/1.6 billion euro) in the construction of an electric vehicle motor factory in Serbia, Japanese media reported on Monday.
Nidec Corporation apparently is in the final stages of talks with Serbian authorities on plans for the construction of the factory and an accompanying research centre, as it looks to expand its foothold in Europe, whose electric vehicle market rivals that of China, financial newspaper Nikkei reported, without citing sources.
The Serbian facility will become one of the company’s largest production hubs in Europe and will reach annual output between 200,000 units and 300,000 units by 2023, Nikkei reported.
In September, the Serbian president’s office said Nidec is considering a 100 million euro ($116 million) investment in the construction of a factory in Novi Sad, northern Serbia, which may start operations in 2021.
Nidec would open about 100 jobs in Serbia if it decides to build a factory in Novi Sad, the president of the Japanese company, Jun Seki, said during a meeting with president Aleksandar Vucic in September. A delegation of Nidec led by Seki visited in September the Sever 4 area of Novi Sad industrial zone to explore the potential site for the project.
