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ZF Group attracts another big investor to Serbia's Pancevo - president Vucic

Author Radomir Ralev
ZF Group attracts another big investor to Serbia's Pancevo - president Vucic Aleksandar Vucic; Source: Serbian President's Office

BELGRADE (Serbia), July 26 (SeeNews) - Germany's ZF Friedrichshafen, or ZF Group, has attracted a new large investor to the town of Pancevo, in northern Serbia, Serbian president Aleksandar Vucic said on Friday. 

"In addition to ZF Group, there will be another great, fantastic factory. Soon we will sign the contract, and I believe that works will start before March 2020," Vucic said in a video file posted on the website of Serbian private broadcaster TV Prva.

The new investor wants to operate near the factory of ZF Group in Pancevo, Vucic said without revealing further details.

Last month, ZF Group opened a 160 million euro ($178.1 million) factory for electric vehicle (EV) parts in Pancevo. The factory currently employs 300 people, with that number to be raised to 1,000 after the completion of all stages of the project's development.

The German company plans to produce electric shafts for premium original equipment manufacturers, e-mobility electric motors, electronic and mechatronic gearboxes, microswitches and printed circuit boards in the initial stage of its operation in Pancevo.

($ = 0.898326 euro)

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