Chinese auto industry to invest in Slovakia
According to Slovak press information, new automotive investments are expected in Slovakia. The local newspapers are projecting the arrival of two Chinese firms, Qoros and BYD.
Leading Bratislava-based newspapers quoted the Slovak Automotive Association (ZAP) and reported that an Asian, presumably Chinese, car manufacturer is planning new investments in Slovakia. ZAP did not specify the name of the investor.
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Should the news be true, the Slovak automotive industry may welcome its fourth giant investor after VW, Kia and PSA Peugeot Citroen. A company, which according to data from last year, is already number one based on the number of cars manufactured per capita.
Bratislava-based Pravda reported that the Asian investor is Qoros, a young Chinese auto manufacturer. The representatives of the company, founded in 2007, have not commented on whether this is true or not, although its interest in Slovakia is obvious, as the company began its European distribution last year in the Central Eastern European country.
Slovak economic newspaper Hospodárské Noviny (HN) reported on Thursday that the new automotive investment could be carried out by BYD, one of the largest Chinese car brands. HN says that BYD is planning to open an R&D centre in Slovakia, the products of which would be mass produced in China.
According to company representatives and the Director of the Slovak branch of the Chinese Chamber of Commerce, they are currently negotiating with a Bratislava-based company about the development of electric cars.
BYD is the sixth largest Chinese car manufacturer with 1.2 million vehicles produced at the brand's plants last year. The Chinese brand, popular on the Chinese market with its electric cars, is mostly famous from copying certain models of Mercedes and Toyota.
