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BELGRADE (Serbia), February 14 (SeeNews) - A Chinese company plans to start in March the construction of a car lighting equipment factory in Nis, in eastern Serbia, Serbian media reported.
"I expect another investment to be launched in March. It is a new Chinese factory, with which we already have a memorandum of understanding. It will manufacture lighting, LED headlights, lights for the automotive industry," Niske Vesti quoted earlier this week Nis mayor Darko Bulatovic as saying.
In November, Serbian media reported that Chinese company Changzhou Xingyu Automotive Lighting Systems has acquired land for the construction of a 50 million euro ($55.5 million) factory in Nis. Construction works are expected to start in the first quarter of 2020, daily Juzne Vesti reported back then.
Xingyu, listed on the Shanghai Stock Exchange, is active in the research and development, design, manufacturing and sales of automotive lamps. The company is the largest Chinese car lighting manufacturer and is a partner to European, Japanese, American and Chinese carmakers, according to data published on its website.
($ = 0.92188 euro)