Xingyu Shares signed the second phase investment agreement in Serbia

On May 27, Xingyu Holdings and the government of the Republic of Serbia officially signed the second phase investment agreement for the Serbian factory. The new project will cover intelligent car lights and electronics business.

Picture source: Xingyu Shares

Xingyu Shares has continued to make efforts in overseas markets in recent years, and its production base in Serbia has become an important fulcrum of the company's globalization strategy.

As early as May 2019, Xingyu Shares signed the first phase investment agreement for the Serbian factory and announced that it would invest in and build a factory in the industrial zone of Nis, a city in eastern Serbia. The total investment in the project is 60 million euros (equivalent to approximately RMB 470 million).

In the first phase of the project, two workshops and supporting facilities will be constructed, with a total construction area of ​​more than 50,000 square meters. According to the designed production capacity, the factory will be able to produce 5.7 million lamps of various types per year after reaching full capacity.

The factory officially started construction in March 2020. After more than two years of construction, it entered the mass production stage in December 2022. It currently serves customers such as Mercedes-Benz, BMW, Audi, Volkswagen, and Skoda.

The signing of the second phase investment agreement for the Serbian factory is expected to accelerate Xingyu Shares’ layout in overseas markets.

Xingyu Shares has previously stated that Serbia, as the first country in Central and Eastern Europe to establish a strategic partnership with China, has a stable political environment and has signed free trade agreements with the European Union and others, and its commodity exports enjoy tariff-free and quota-free treatment. These factors make Serbia an ideal springboard to enter the supply chain of European mid-to-high-end automobile brands, which will help Xingyu better serve European customers and undertake global outsourcing projects for overseas OEMs. (Compiled by LEDinside)

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