May 18 (SeeNews) - Japanese electric motor manufacturer Nidec Corporation said on Thursday it opened a factory for automotive inverters and electronic control units in Serbia's northern city of Novi Sad.
The factory will serve as a central base for the company's production activities in Europe, Nidec said in a press release.
You can download the 2023 Automotive industry in Southeast Europe report here
Nidec started the construction of the plant in December 2021 as part of plans to expand in Europe. The value of the project, which includes a factory and a research centre, is 1.5 billion euro ($1.6 billion), according to the Development Agency of Serbia.
The automotive motors factory, which spans 59,760 sq m, will employ 1,000 workers following the completion of the first phase of construction.
($ = 0.9246 euro)