German company ZF to invest in e-vehicle parts factory in Pančevo, Serbia
Germany company ZF Friedrichshafen AD (ZF) plans to invest in the construction of an electric vehicle parts factory in Pančevo. The first phase investment totals EUR 85 million, the city government has announced.
According to the preliminary volume of the planned production, the project would be realized in the Northern industrial-business-production zone in Pančevo, near Belgrade, and in phases.
The first phase of investments is planned for the period 2019 – 2021 when the 25.000 square meters factory will be built on a land parcel of 10.8 hectares. In this initial phase, 540 people will be employed.
In the first phase of the development of the factory, the German company plans to produce: electric shafts for premium original equipment manufacturers (OEMs), E-Mobility electric motors, electronic and mechatronic gears, microswitches and printed circuit boards (PCBs), the city of Pančevo portal reveals.
The company plans to invest approximately EUR 40 million in 2019, about EUR 25 million in 2020 and another EUR 20 million in 2021.
In the second phase, starting from 2022, ZF plans to expand the site and add another production unit of 25,000 square meters. It would also increase both the volume of production and the number of workers so that in total, there would be between 800 and 1000 employees.
Over a month ago, Mate Rimac, the founder of Croatia’s electric carmaker Rimac automobili, announced on his social networks that a major German automotive company will build a factory for the production of electric vehicles’ engines in Serbia. He gave no names.
ZF has a global workforce of 146,000 in 40 countries. In 2017, it recorded sales of 36.4 billion euro. The company invests more than six percent of its sales in research and development annually – in particular for the development of efficient and electric drivelines.
ZF’s Vision Zero – with zero accidents and zero emissions as the ultimate goal of all company activities – shows how strong the company has committed itself to the concept of sustainability with its products making an important contribution to safe and environmentally sustainable mobility.