The automaker Next.e.GO signed a contract with Greek investment company Enterprise Greece on Wednesday expressing its intent to invest 100 million euros into an electric car factory in the country.
Next.e.GO will create a full range of environmentally friendly battery-operated vehicles in its Greek factory, which will have the capability of manufacturing approximately 30,000 to 45,000 cars a year once it is constructed.
Ulrich Herman, the CEO of Next.e.GO, signed the contract at an event in Athens, while Greek PM Kyriakos Mitsotakis and Greek Deputy Foreign Minister for Economic Diplomacy Kostas Fragogiannis attended virtually.
The massive investment comes atop a wave of similar decisions by international companies to begin operations in the Mediterranean country, once plagued by a deep economic crisis.
“Greece is returning dynamically to the investment map of big companies.
A new prospect is opening up for our country through this agreement,” Fragogiannis said.
He stressed that the investment would create 1,000 jobs directly in the factory, and support over 5,500 jobs indirectly.
The investment plan includes the production of metal parts and other processes, as well as the final assembly of vehicles and quality control.
Specialized staff will be hired and will be send for training at the central headquarters of Next.e.GO in Aachen, Germany.
“Through this agreement as well, Enterprise Greece is highlighting the political value of the reform that strengthened economic diplomacy,” the deputy minister said, adding that a great deal of work remains to be done to facilitate other business prospects which will revive the industrial sector in Greece.
He also noted that the project will make Greece one of the leading countries in Europe in electromobility by creating the capacity for domestic production.
On his part, Hermann noted: “The design and industrial characteristics of e.GO Life 4.0 production technology, on the one hand, and the flexible business cooperation models that it promotes, on the other hand, give Next.e.GO SE the opportunity to transform urban transport throughout Europe and beyond. The Greek government’s policy choice for carbon-free mobility perfectly meets our mission at Next.e.GO SE.”
He also highlighted the benefits for Greece, such as more jobs, the transfer of knowhow from Germany in a cutting-edge technological sector, and promoting Greece’s position in international markets as one of the leading European states in electromobility.