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05 04 2018 02

Germany’s ZF Group has stated its intent to invest 85 million euros to built an electric vehicle component factory in Pancevo, in northern Serbia. The project will be scaled up in stages from 2019 and ultimately employ up to a 1,000 people.

ZF Friedrichshafen plans to invest 40 million euros in 2019, 25 million euros in 2020 and 20 million euro in 2021, to construct a factory with a footprint of 25,000 square metres on a land plot of 10.8 hectares, the city government of Pancevo has said.

In the first phase of development, the German company plans to produce electric shafts for premium OEMs, electric motors, electronic and mechatronic gearboxes, microswitches and printed circuit boards with a growing work force.

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