Continental Opens Car Part Factory Near Novi Sad – Exports Worth EUR 2 Billion Expected in Three Years

Source: Beta/eKapija Thursday, 23.02.2023. 15:42
Illustration (Photo: Unsplash / Clinton Naik)Illustration
The German company Continental has opened a factory of electronic devices for cars, in which EUR 140 million was invested, in Kac near Novi Sad.

The construction of a factory of 30,000 m2 began in June 2021. Initially, around 400 people will work there.

The plan of the management of Continental is for an additional sum of over EUR 150 million to be invested in the new factory and for another 1,500 people to be employed.

The factory’s exports are expected to be worth more than EUR 1 billion in two years, whereas the projections are that, after three years of operations, the exports will exceed EUR 2 billion.

That is the second factory of this German company in Serbia and its biggest factory in Europe.

Around 1,300 people work at Conti-tech Fluid, Continental’s factory in Subotica.

Over five years ago, Continental opened an R&D center in Serbia, where over a thousand highly qualified automotive industry experts work.

In Serbia, Continental bought Kolubara Univerzal in Lazarevac and employed 172 workers there.

The opening of the factory in Novi Sad was attended by the president of Serbia, Aleksandar Vucic, who said that two years from then Continental would be the biggest or the second biggest exporter from Serbia.

He said that he had talked to the management of Continental about the company opening a development center in Nis as well.

Vucic said that he would propose to the Government of Serbia to double the incentives for investments south of the Sava and the Danube, in order to incite the development of that part of Serbia.

Sasha Cioringa, the general manager of Continental Automotive Industry, said that it was a great success that the “Made in Serbia” tag would be put on the solutions which had been designed by Serbian experts and which would be installed in the most modern cars in the world.

– It is time to start producing solutions and selling them in millions. This is leading us toward becoming one of the biggest exporters from Serbia – Cioringa said.

He pointed out that the innovative products made at the factory would dictate trends worldwide and that the investment and the most modern technology being used would help push the development of the Serbian economy.

The German ambassador to Serbia, Anke Konrad, said that Germany was the first trade partner of Serbia observed by the value of exports and that German companies in Serbia raised the standards in technology and the business culture.

The German company Continental AG was founded in 1871 and is one of the five biggest suppliers in the automotive industry in the world and the second biggest one in Europe. In 2021, the company employed around 191,000 workers in around 527 locations in 58 countries and had an income of EUR 33.8 billion.

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