China-based manufacturer of heavy-duty trucks and buses Shanghai Huizhong Automotive Manufacturing (SHAC) plans to set up a factory in Novi Sad, Serbia.
The factory will produce vehicle chassis for the European market and aims to create 150 jobs. It will be located within the CTPark Novi Sad East industrial zone, near the Kać interchange, and intends to open by the end of 2025.
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The deal was signed during the visit of Milan Đurić, Novi Sad’s mayor, to SHAC’s plant in Shanghai. The investment’s value was not revealed.
Đurić said the new site “will contribute to the growth of GDP, but also to an increase in income for the local self-government from property tax and wage tax.” He added that the investment “will also improve the global position of Novi Sad, because it will be the first factory that SHAC opens [in Europe].”
The move shows China’s growing interest in expanding its market share in Europe’s automotive sector through strategic investments.
SHAC manufactures and sells minibuses, vans with sound lighting, and heavy trucks and buses. It was established in 1992, but its history in the automotive industry dates back to 1958 when the first truck of its type was put together in China.
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