© Development Agency of Serbia Electronics Production | March 17, 2020
Kyungshin Cables to make a €20 million investment in Serbia
The South Korean cable plans to invest EUR 20 million in the construction of a factory for electric vehicle charger cable sets in Smederevska Palanka, Serbia.
The local government of Smederevska Palanka and Kyungshin Cables have signed a Memorandum of understanding (MoU) for this project, in which the company says it will employ at least 700 people within the project, according to an update Development Agency of Serbia. The current plan for Kyungshin Cables is to start the construction of the factory in April and to complete it in 2021. Kyungshin Cable operates within the Kyungshin Group and manufactures electronic components for the automotive industry, mainly cable harnesses for manufacturers such as Hyundai, Kia, Volkswagen, Ford, Volvo, and BMW.