Serbia’s Ministry of Economy has agreed to provide a total of €40.4 million in subsidies to four automotive companies. The funding will support new production facilities, manufacturing upgrades, and job creation in Novi Sad, Loznica, Šabac, and Niš.
The agreements were signed with BMTS Technology, Minth Automotive Europe, Minth Metal Parts Balkan, and Xingyu Automotive Lighting Systems.
Novi Sad-based BMTS Technology will receive €3.3 million to automate the production of electrical and electronic equipment for motor vehicles. The state aid covers 25 percent of the project’s planned costs, estimated at €13.3 million. The funds will be paid in three instalments by 2029.
BMTS Technology is owned by Germany-based BMTS Technology International, a manufacturer of turbochargers for internal combustion engines. The group operates plants in Serbia, Germany, China, Mexico, and Austria. In 2024, it reported consolidated revenue of €631.1 million.
The largest share of the newly approved subsidies will go to two companies belonging to the Minth Group.
Minth Automotive Europe, based in Loznica, will receive approximately €17.3 million to build a new automotive-parts factory. Under the agreement, the company must hire at least 600 permanent employees by the end of 2026.
Minth Metal Parts Balkan, another member of the group, has been awarded €11.6 million. The funding will support the construction of a new plant in Šabac for manufacturing decorative metal components for the automotive industry. The company is required to employ at least 220 workers by the end of 2028.
The Minth Group designs and manufactures body components, roof racks, decorative elements, and other automotive equipment. It has production facilities in several countries, including China, the United States, Mexico, Thailand, and Germany.
The remaining €8.2 million will go to Chinese company Xingyu Automotive Lighting Systems for a new automotive-lighting factory in Niš. The project is expected to create at least 100 jobs by the end of 2030.
Xingyu operates six manufacturing plants—five in China and one in Serbia. According to information contained in the subsidy agreement, the group generated more than €1 billion in consolidated revenue in 2022 and employed nearly 8,600 people. Its main markets are China, Germany, Japan, and the United States.
