Fico: Hyundai Mobis to Invest over €170 million in Plant in Novaky

Bratislava, October 15 (TASR) - South Korean car parts maker Hyundai Mobis is set to invest more than €170 million in a plant for the production of components primarily for electric vehicles in Novaky in Trencin region and will create over 270 jobs, Premier Robert Fico (Smer-SD) confirmed after signing a memorandum of cooperation between the government and the company on Tuesday, claiming that his cabinet plans to support the investment with an incentive of €26 million. "The transformation of this region, which is inevitable because of closed coal mines, requires that we find a meaningful alternative for people who have lost their jobs. Such an alternative is certainly industrial production, the production of components for electric cars in particular," said Fico. The premier promised Hyundai Mobis representatives that the government will take all measures to ensure that the plant will have enough skilled labour. Furthermore, he presented the South Korean delegation with a number of planned measures in the field of secondary and higher education, as well as the possibility of recruiting employees from abroad. According to Fico, the government should take a decision on supporting the project as early as on Tuesday. "I assume that there will be no one in the cabinet who will question this decision. It will be a tax relief of around €26 million," claimed Fico. "We particularly appreciate that such production with high added value is coming to Slovakia, to a severely tested region, and I believe that we will continue with other projects in this manner in the future," the premier added. zel