The Slovak government and Hyundai Mobis have signed a memorandum of understanding on the South Korean company’s plan to build a plant for engines and other parts for electric cars in Slovakia. Prime Minister Robert Fico says Hyundai Mobis will invest over 170 million euros ($185 million) in the plant, to be built in Novaky in western Slovakia.
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Prime Minister Robert Fico said Hyundai Mobis will invest over 170 million euros in the plant, to be built in Novaky in western Slovakia. The town is located in a region that relied for decades on brown coal mining until all the mines shut down recently and a major coal-fired power plant in Novaky was closed.
Fico said his government will provide some 26 million euros in incentives to the company for the project that should contribute to the post-coal transformation of the region.Germany’s Volkswagen; multinational Stellantis, previously known as PSA; South Korea’s Kia Motors Corp.; and U.K.-based Jaguar Land Rover already have major plants in Slovakia, a Central European country of 5.5 million people.
Slovakia Government General News I South Korea Slovakia F Business World News Robert Fico World News
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