Photo: Revoz/Renault
Slovenia decided to subsidize the French automotive company Renault’s investment in electric vehicles with EUR 40 million.
At the end of July, the government and Renault signed a memorandum of understanding on the production of a new version of the electric model Twingo in Revoz, in Novo Mesto. Slovenia-based Revoz is part of the French carmaker group.
Minister of Economy Matjaž Han now told Forbes that funds have already been set aside for the project for next year. The government, in his words, is in constant communication with Renault and the company is preparing the investment.
The government is waiting for the necessary documentation, Han noted and added that the first vehicles are set to be manufactured in 2026.
The current number of employees will be maintained and new jobs added
He noted that in line with Slovenia’s regulatory framework, large investments can be covered 10% to 30% with subsidies. Over the next several years, the government will provide around EUR 40 million, of which EUR 25 million is secured in the budget for next year, Han revealed.
Existing jobs will be kept while the plan includes 400 more, depending on the demand for the new version of the electric Twingo, according to the minister.
When the memorandum was signed, Prime Minister Robert Golob noted that the negotiations began a year and a half before that, when the future of Revoz was very uncertain. It was when the numbers of shifts and workers were reduced.
Slovenian companies could replace German partners with Chinese firms
Han now said Slovenia wants to cooperate with China’s automotive industry. He has visited one of the world’s largest import-export fairs there together with a business delegation.
The minister said he has no illusions about the one visit bringing any contracts for Slovenian firms. On the other hand, having in mind that China has overtaken Europe in the segment of electric vehicles, perhaps car industry suppliers and manufacturers in Slovenia can find new business partners, Han stressed.
That way they could make up for for the potential loss of contracts with German companies, in his view.
The minister claimed Slovenia has a good reputation in China because, like Germany, it voted against the European Union’s import tariffs on its electric vehicles.
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