German automotive giant Continental has opened a factory in Novi Sad, Serbia

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Continental Automotive Serbia, a subsidiary of the German automotive giant Continental AG, has opened a factory for automotive electronic devices near Novi Sad, in which 140 million euros have been invested. This is what BalkanEngineer.com learned from Serbianmonitor.com. Construction of the 30,000 m2 production factory began in June 2021.

The new production will initially employ around 400 people, while Continental's management plans to invest an additional 150 million euros and create another 1,500 jobs. The company plans to generate over 1 billion euros in exports in the first two years of operation, with it expected to reach over 2 billion after the third year.

This is Continental's second factory in Serbia and the group's largest factory in Europe. The Subotica plant, ContiTech Fluid, which opened in 2013, employs 1,300 people. More than five years ago, Continental opened a research and development center in Novi Sad, where around 1,000 specialists design products for the global market.

The opening of the factory in Novi Sad was attended by Serbian President Aleksandar Vucic and German Ambassador to Serbia Anke Konrad.

Photo source: canva.com