BELGRADE (Serbia), June 10 (SeeNews) – Chinese company Changzhou Xingyu Automotive Lighting Systems plans to open in February 2021 a 60 million euro ($68.2 million) factory it has under construction in Nis, in eastern Serbia, the Serbian government said.
The company will open 1,000 jobs at the factory and will export its production to Germany, France and Slovakia, Serbian prime minister Ana Brnabic said during a tour of the construction site on Tuesday, as quoted in a government statement.
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Xingyu has committed to invest 7.5 million euro in the acquisition of land, 32.7 million euro in the construction of facilities and 19.6 million euro in new equipment by the end of 2023, the government said.
In March, Serbia's state aid commission approved the allocation of 16.4 million euro in government financing to Xingyu for the construction of a 60 million euro car lighting equipment factory in Nis.
Xingyu, listed on the Shanghai Stock Exchange, is active in the research and development, design, manufacturing and sales of automotive lamps. The company is the largest Chinese car lighting manufacturer and a partner to European, Japanese, American and Chinese carmakers, according to data published on its website.
($ = 0.8792 euro)