Ningbo Zhenyu to build 50 mln euro car parts plant in Serbia

Apatin mayor Dubravka Kopac and representatives of the Chinese company signed on June 28 a memorandum of understanding on the project, which defines the obligations of the two sides related to the construction of the planned factory, the Apatin municipal administration said in a statement last week.

The planned factory will produce car parts such as rotors, stators and other items by using the technologies of stamping, welding, assembling, pressure casting and digital control. Under the plan, the Chinese investor will spend 50 million euro from 2024 until 2028 in the construction, equipment and launching the operations of the new plant, which will employ 150 workers at the 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. It is now also active in the fields of lamination stamping and lithium batteries for electric cars.

($ = 0.931 euro)