A new battery plant with EU funding is launched in North Macedonia

A new 35 million euro investment will be made in North Macedonia for the construction of a battery plant, BalkanEngineer.com has learned from an announcement by the country's prime minister. The company behind the project is based in the European Union, but it was not disclosed exactly which country it represents.

The project is expected to create new jobs and boost the development of the region's innovative battery industry. According to the government, it is a key step towards an economic transformation oriented towards green technology and sustainable growth.

The investment comes just weeks after the announcement of another large-scale project in the same sector. Belgian company Avesta Battery and Energy Engineering (ABEE) is already building a plant for battery systems for electric vehicles in the city of Kichevo. The initial investment is 10 million euro, but plans call for an expansion to 40 million euro.

ABEE expects to achieve exports worth 50 million euro in the first year of operation, and within 6-7 years this volume could grow to 500 million euro.

North Macedonia is increasingly positioning itself as an attractive destination for investors in the green energy and electro-mobility sectors, thanks to its strategic location, access to European markets and active support from the state.

Photo source: ©Engineer BG via Canva.com