The Slovenian government is to invest EUR14.3m (US$19.9m) in Renault’s Revoz factory for the production launch of a new city car, the country’s economy minister said.

Matej Lahovnik said the new vehicle, codenamed X33, to be made in the Novo Mesto factory will be a two-seater city car based on the existing Twingo II. The total investment at the plant will be EUR47.8m (US$66.4m), he added.

The minister said the government was investing the money to ensure Renault continued to build cars at Novo Mesto and to protect local suppliers. In 2007 Slovenia invested 10% of the more than EUR400m (US$555m) that Revoz needed to launch the production of the Twingo II.

Revoz is Slovenia’s largest exporter and the third largest company based on total revenues.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.