Chinese automotive company Ningbo HuaXiang Electronic and Hib Rolem Trim, a German-Romanian automotive producer, have signed an agreement to develop a US$30m factory in Brasov, Romania.
The new factory will produce auto parts and accessories such as decorative items for interior parts such as dashboards, centre consoles, and door trims for Mercedes-Benz A- and B-class cars, romania-insider.com reported.
The project will be launched in the first quarter of the next year and will be completed by mid-2019. The factory will cover about 15,000 square metres and 265 new jobs, according to Romania’s foreign investments state agency InvestRomania.
A year ago, Ningbo HuaXiang Electronic and Hib Rolem Trim signed a letter of intent for a project that involved transferring a production line manufacturing interior decorations for BMW to Romania. Construction of the EUR10million plant, creating 200 new jobs, started in early July 2015 and is to be finished by December 2016.