The Japanese group Nidek Corporation will invest 200 billion yen (1.9 billion dollars) in the construction of an electric vehicle factory in Serbia.
Nidek is in the final phase of talks with Serbian authorities on plans to build a factory and research center in Serbia, as the company seeks to expand its foothold in Europe, whose electric vehicle market competes with China’s.
The plant in Serbia will become one of the largest production centers of the Japanese company in Europe, which will reach an annual production of between 200,000 and 300,000 units by 2023.
It is further reminded that the office of the President of Serbia, Aleksandar Vucic, announced in September that Nidek was considering an investment in the construction of a factory in Novi Sad, which could start operating in 2021.
The president of the Japanese company, Yun Seki, visited Serbia in September, and on that occasion he discussed a possible investment with President Aleksandar Vucic.
A delegation from Nidek, led by Seki, also visited the North 4 area in the Novi Sad industrial zone at the time to explore a potential location for the project.
The Mayor of Novi Sad, Milos Vucevic, stated then that the City was ready to be a serious partner to the Japanese investor and that he believed that the Nidek delegation was convinced that the state of Serbia and Novi Sad provided the best conditions for their investment, and that we had comparative advantages over some other locations in Europe.
“They announced that they would make a final decision at the beginning of next year, but President Vucic asked them to do so by the end of the year,” Vucevic said after talks with Nidek leaders in September.
Nidek is a leading Japanese company in the field of electric motor production and has the largest share in the global market for small spindle motors that power hard disk drives.
As of 2017, the company has 296 subsidiaries located, in addition to Japan, throughout Asia, Europe and America, Sputnik News reports.
