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Next e.GO announces plan to invest in electric car factory in Greece

Updated: Dec 18, 2020

Enterprise Greece (the Hellenic Investment and Foreign Trade Company SA) and Next.e.Go Mobile SE signed a Letter of Intent to launch a factory for the production of electric cars in Greece. It is expected to take 24 months to complete the investment.


Athens, Greece: 16 December 2020

(c) electric vehicles by Next.e.GO Mobile SE


Next.e.GO Mobile SE was created in 2015 in Germany by Aachen University Professor of Engineering Dr. Günther Schuh. It is the only German company that manufactures electric battery vehicles. The company employs about 450 employees and manufactures electric cars using the 5G technology and innovative BEV platform. Next.e.GO Mobile SE provides electric vehicles with an emphasis on long life cycle and attractive prices for consumers.

The factory in Aachen produces 10,000 cars per year.


According to Enterprise Greece, this investment will be part of the strategic projects and the incentive framework as Next.e.GO Mobile SE will also invest in the establishment of a Technology and Innovation Campus in Greece.


According to the Deputy Minister of Foreign Affairs for Economic Diplomacy, Costas Frangogiannis:


Greece is returning dynamically to the investment map of large companies. This agreement opens a new perspective for our country. 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 mln and is expected to employ 1,000 employees. With this agreement, Enterprise Greece highlights the political value of the reform that strengthened Economic Diplomacy.


The CEO of Enterprise Greece, George Filiopoulos noted:


Today's Letter of Intent to Cooperation that we signed with Next.e.GO Mobile SE, proves in practice what we claim from the start of the pandemic, that the country continues to record increased investment interest in the implementation of projects of significant impact on the national economy.


The Member of the Board of Directors of Next.e.GO Mobile SE and CEO of the Group Mr. Vezvaei said:


At Next.e.GO Mobile SE we focus on the real life cycle of our products. 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 a public-private partnership could offer long-term benefits not only to the environment but also to local communities.

Navigator Consulting supports property and tourism investments in Greece and Cyprus, and has extensive experience in due diligence on tourism and property investments.


Philip Ammerman

Managing Director

Sources:


Enterprise Greece. 16 December 2020


Themanews.com. 16 December 2020


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