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Chinese investor, Croatian entrepreneur plan EV factory in Croatia - report

Chinese investor, Croatian entrepreneur plan EV factory in Croatia - report License: CC0 1.0 Universal

ZAGREB (Croatia), May 16 (SeeNews) - Chinese investor Karl Soong and Croatian entrepreneur Mladen Nincevic, owners of Zadar-based Green Tech Group, are planning to build a factory for electric cars and scooters in the Croatian town of Kula Norinska, local media reported.

Soong, the founder and president of Poly International Group in China, and Nincevic have signed a deal with the municipality of Kula Norinska to purchase 53 hectares of land for 16 million kuna ($2.6 million/2.2 million euro), news portal Poslovni.hr reported on Tuesday.

The construction of the factory will take place in three phases over the next ten years. Soong and Nincevic plan to invest over 100 million kuna in the project.

Green Tech Group was registered in Zadar last year by Soong, Poslovni.hr noted. It is headed by Nincevic's son Anthony Nincevic.

Poly International Group is one of the leading manufacture and exporter of householdproducts, electronics and electric vehicles from southern China. According to Poslovni.hr, Soong came to Croatia with the intent to purchase auto manufacturer Rimac Automobili, however, after failing to do so he linked up with Nincevic.

Green Tech Group is registered as a producer of electric two wheelers and cars, among other things.

(1 euro=7.38174 kuna)

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