German EV-startup Next.e.GO Mobile SE announced today that it has entered into an agreement with the Republic of North Macedonia to build a MicroFactory in the country’s Technological Industrial Development Zones (“TIDZ”), near the city of Tetovo.
Once in production, the North Macedonian MicroFactory will be the Company’s 3rd MicroFactory worldwide, with the 1st being the in-production Aachen, Germany MicroFactory and the 2nd being the in progress MicroFactory in Bulgaria.
During a public ceremony at the project site, the parties signed a definitive agreement, based on which e.GO plans to build a MicroFactory production facility for its battery electric vehicles with expected capacity of up to 30,000 vehicles per year. Start of production of the new facility is currently projected to be in the last quarter of 2024. The project is intended to create up to 900 new jobs in the country.
“This investment is of great importance for the state, but also for the local economy and the development of human potential in Tetovo and in the country. With this significant investment, North Macedonia once again confirms that it is a country that offers excellent conditions for investors, with a stable economic and political climate in which international companies like e.GO have a trusted partner,” said Demitar Kovacevski, the Prime Minister of the Republic of North Macedonia.
“This agreement is another key milestone in e.GO’s global growth and underscores the intrinsic value of our disruptive technology and innovation. We are truly excited to expand our production footprint to the Republic of North Macedonia, following our progress in Bulgaria. Our strategic focus in South East Europe is based on our conviction as to the region’s competitive eco-system, attractive investment climate and access to driven and talented human capital,” said Ali Vezvaei, Chairman of the board of e.GO.
e.GO is focused on accelerating the transition to zero-emission urban mobility and helping cities and their people change the way they move around for the better. Committed to innovation with practicality and purpose, e.GO has developed a unique battery electric vehicle platform as well as a revolutionary production system, which e.GO refers to as a MicroFactory, that, combined with its “Industry 4.0” digital architecture, is intended to enable the Company to develop and produce vehicles in shorter periods of time and with considerably lower investment as compared to traditional vehicle OEM processes. e.GO aims to accomplish this while offering economic value add by engaging local communities, developing local talent and increasing local sourcing of materials.