Skopje, 5 June 2023 (MIA) – Celebrating its seventh anniversary of launching operations in North Macedonia, German car parts maker Kostal announced a third investment in the country.

The new investment was announced on Monday during the meeting between PM Dimitar Kovachevski and Deputy PM for Economic Affairs Fatmir Bytyqi and the Kostal Group management team.

Kostal Macedonia in Ohrid will invest close to €50 million in a new production line for chargers for electric and hybrid vehicles.

The new production line, is expected to be realised from July 2023 until December 2026, the government said in a press release.

“Together with the previous two phases, the company's total investments in Macedonia will reach €150 million. Over 300 jobs will be additionally created for this investment cycle,” the press release read.

PM Kovachevski welcomed the new investment of Kostal Macedonia, stressing that the expansion of this investment, as well as of other companies founded by foreign investors in the country, demonstrates the government’s good policies in creating a favourable and predictable investment environment.

Kostal Macedonia director Viktor Mizo briefed that so far the company has invested over €100 million in the factory in Ohrid, and the plan is to start production with the introduction of the latest SAC (Smart Actuator Charging) technologies and charging systems from the Volkswagen group, which will be installed in the latest models of Volkswagen, Skoda, Seat, Audi and Porsche.

“The charging systems of these world brands for all hybrid and electric vehicles will be produced in the Republic of North Macedonia. Kostal Macedonia will become the only global location where these systems for power electronics will be produced, regardless of where the cars are finally assembled,” reads the press release.

During the meeting, director Mizo emphasized the importance of the state aid that Kostal Macedonia has been using since the first day, and until now it has received financial aid in the amount of €12.5 million, and currently 1,020 employees work in the company with an average salary far above the national average.

In addition, Kostal Macedonia invests in the production of the latest roof modules that use the latest skintec technology used for the most exclusive Daimler models such as: Mercedes EQS, EQE, C + S CLASS, AMG SL.

Photo: Government