German car parts maker ZF Friedrichshafen AG (ZF) has unveiled a plant in Pančevo to produce powertrain components for hybrid and electric vehicles (EV), which already employs 300 people, with plans to expand the facilities and create a further 700 jobs by 2021, local media have reported.
From the Pančevo plant, ZF will supply Audi, Volvo, Mercedes-Benz and other renowned car brands with components including electric motors and generators for hybrid and electric drives. Due to increasing demand for these products, ZF has already launched a project to expand the Pančevo facility from the current 25,000 square meters to about 60,000 square meters, according to reports.
In addition to the production facilities, ZF also plans to build a 5,000-square meter research and development center in Pančevo, which will create jobs for more than 100 engineers.
Overall investment to reach EUR 160 million
ZF has invested EUR 100 million in the Pančevo plant, while the second stage of the project, which is already under way, will cost an additional EUR 60 million, putting the German company’s overall investment in Serbia at EUR 160 million. Works on the newly-opened factory were launched in June 2018, according to earlier reports.
ZF is a global supplier of systems for passenger cars, commercial vehicles and industrial technology, enabling the next generation of mobility. Its product range includes gearboxes for wind turbines. The company has a global workforce of 149,000 at about 230 locations in 40 countries. In 2018, ZF posted sales of EUR 36.9 billion, according to its website.
The unveiling ceremony in Pančevo was also attended by German Ambassador to Serbia Thomas Schieb, Serbian Chamber of Commerce (PKS) President Marko Čadež, Head of E-Mobility Division at ZF Jorg Grotendorst, and member of ZF’s management board Michael Hankel.