February 24 (SeeNews) - Serbian car parts manufacturer TPV Sumadija, part of Slovenia’s TPV Automotive group, plans to expand its production facility in Kragujevac, central Serbia, the Kragujevac city government said on Friday.
The company will build a manufacturing facility next to its existing factory, increasing the number of employees by at least 50%, the city government said in a press release.
You can download the 2024 Automotive industry in Southeast Europe report here
Approached by SeeNews for information on the volume of the planned investment and the manufacturing capacity of the new unit, a representative of the local government declined comment. A SeeNews email to TPV Automotive went unanswered by the time this article was published.
According to the Serbian business registry, TPV Sumadija is wholly owned by TPV Automotive. It was founded in August 2005 with a capital of 20,480 dinars ($185/175 euro).
TPV Automotive manufactures products that have a significant impact on vehicle dynamics, safety, ecology and driving comfort, as well as technology solutions for electric vehicles. The company operates at five locations in Slovenia.
1 euro = 117.320 dinars