China’s Ningbo Zhenyu Technology plans to invest EUR50m (US$53.7m) to open a car parts factory in the Serbian city of Apatin, the municipal administration told Seenews.com.
Apatin mayor Dubravka Kopac and representatives of the Chinese company signed a memorandum of understanding on the project which defines the obligations of the two sides related to the construction of the planned factory, the municipal administration said.
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The planned factory will produce car parts such as rotors, stators and other items using stamping, welding, assembling, pressure casting and digital control technology. Under the plan, the Chinese investor will spend EUR50m from 2024 until 2028 on construction, equipment and launching operations at the new plant, which will employ 150 workers to start.
Ningbo Zhenyu Technology is a key manufacturer of progressive lamination dies and high precision machining equipment in China since 1994, according to the company’s website and is now also active in the fields of lamination stamping and lithium batteries for electric cars.
