The production of electric vehicles in Greece is on track

Full-scale production is on track of electric vehicles in Greece, after the first official signing of the “Letter of Intent to Cooperation” by Enterprise Greece (Hellenic Investment and Foreign Trade Company SA of the Ministry of Foreign Affairs) and the German company Next.e.GO SE.

The agreement was signed at noon. The relevant teleconference was attended by Prime Minister Kyriakos Mitsotakis and the heads of the relevant ministries: the Minister of Development and Investment Adonis Georgiadis, the Deputy Minister of Development and Investment Nikos Papathanasis, the Deputy Minister of Research and Development, the Minister of Foreign Affairs Enterprise Greece Ioannis Smyrlis and the Legal Advisor of Next.e.GO SE Stavros Kostantinidis.

The project was presented by the Deputy Minister of Foreign Affairs, in charge of Economic Diplomacy, Costas Frangogiannis, while the CEO of Enterprise Greece, George Filiopoulos, signed the agreement, together with the Chairman of the Board, Next.e.GO SE Prof. Ulrich Hermann .

The identity of the investment plan

The investment plan, as formulated based on the negotiations so far, envisages the construction of a Next.e.GO factory in Greece, which in the first phase will be able to produce up to 30,000 electric cars per year, and the establishment of a Technology Center and Innovation for research purposes.

In the start-up phase, the investment is estimated at 100 million euros. It is envisaged that 1,000 direct jobs will be created in the factory, many of which will be filled by specialized personnel, and an additional 5,000 indirect jobs will be created in the wider catering and service ecosystem that will support the industrial unit.

As the investment plan includes the production of metal parts, exterior thermoforming, final assembly of vehicles and quality control, the government is expected to set up a strong local network of suppliers to meet the plant’s needs, giving additional impetus to economy.

The planned investment is considered “green”, promoting the circular economy and based on extremely low carbon emissions, while at the same time showing that the central policy for “green” transformation promoted by the government attracts strong private sector actors.

As they emphasize in the government, in combination with the investment of Volkswagen for a pilot conversion of Astypalea into an island of electric power, it proves that Greece is cultivating a brand name in terms of the development and implementation of new technologies, environmentally friendly. Following the announcements by Microsoft, Volkswagen and Pfizer, Next.e.GO’s advanced interest also shows that, despite the pandemic and the economic impact it has caused worldwide, the work of attracting strategic investors to Greece continues successfully, especially in the field of technology and research.

“Greece is rapidly transforming into a country that is open to advanced foreign direct investment”

“We do not envision Greece simply as a country that is competitive in terms of services. “We want to be competitive in the high-tech manufacturing sector, and I think we are taking an important first step in this direction,” he said. Prime Minister during its installation.

“The issue is not just the construction of a new car but a different way of envisioning how production will take place in the age of the internet of things. “It also allows us to complete the project in a much shorter period of time compared to the traditional construction schedules of industrial car production units”, noted Mr. Mitsotakis and pointed out the need for the first “made in Greece” electric vehicles to be built in of the planned timetable “.

“Greece is rapidly transforming into a country that is open to advanced foreign direct investment, such as the one we are working on today. “We offer not only a strong package of financial incentives but also access to a workforce that is talented and highly qualified,” said the Prime Minister.

“Long-term benefits not only for the environment but also for local communities”

“Today marks the beginning of a new history, a new beginning for sustainability on one of Europe’s cornerstones,” he said. Ali Vezvaei, CEO of ND Group and member of the Board of Directors of Next.e.GO., noting that Next.e.GO focuses on the real viability of its product life cycle.

As he explained, “this includes, not only the electric car and its innovative production system, but also the positive economic impact it offers to the host countries of the investment, by increasing employment, highlighting technology and enlarging the ecosystem of support companies. “Our cooperation with Greece is an excellent example of how public-private partnerships could offer long-term benefits not only to the environment but also to local communities.”

The professor Hermann, CEO of Next.e.GO SE noted that “the design and industrial features of e.GO Life production technology on the one hand and the flexible business collaboration models it promotes on the other offer Next.e.GO SE the an opportunity to transform urban mobility across Europe and beyond. ” At the same time, he stressed that “the political choice of the Greek government for carbon-free mobility responds perfectly to the mission” of the company.

“We are determined to make this partnership a success and look forward to making significant progress in the coming weeks and months,” he added. “Greece is a perfect example of our strategy to develop the footprint and the idea we developed around the world and the support of the Greek government shows how the concept of Next.e.GO is considered the next generation in the field of industrial production,” he noted. Mr Hermann.

The Undersecretary of State for Economic Diplomacy Costas Frangogiannis, commenting on the agreement, noted that the facility will have a production capacity of up to 30,000 cars per year, while the amount of investment in the start-up phase is estimated at 100 million euros and is expected to employ 1,000 employees initially. “We have a lot of work ahead of us for its implementation, but also for the facilitation of other business prospects that are reviving the Industrial production sector in our country”, he added.

The Minister of Development and Investment Adonis Georgiades For his part, he stressed that “the circulation of cars, reliable, environmentally friendly and accessible to the average consumer, this is indeed a real revolution, which completely changes the market. We want to see this happen in Greece and we are here to help you in any way we can. ” “When you start investing, you will be amazed at the skills of highly skilled and highly productive Greek workers, especially in the high-tech sector – far more than you might expect,” he continued.

The Deputy Minister of Development and Investment Nikos Papathanasis “Innovation is our first priority and we would like to create a friendly environment, as this can help reverse the brain drain we experienced during the financial crisis, and turn it into a brain gain,” he said. “We want Greece to become a strategic hub for multinational companies in the wider region of Central and Eastern Europe, while we are transforming into a global benchmark for research and development (R&D),” he added.

The Deputy Minister of Development and Investment Christos Dimas “Greece is a very attractive country for innovative investment in research and development (R&D),” he said. “Although we do not have a traditional automotive complex in the country but we want to use the agreement with e.GO to create an innovative automotive industry cluster,” he added.

The Secretary General of the Ministry of Foreign Affairs, responsible for Economic Diplomacy and President of Enterprise Greece, Giannis Smyrlis“The agreement underscores not only the country’s ability to attract high-quality investment but also the government’s commitment to combine and implement a strategic plan that will create the right business ecosystem,” he said.