Search for...

The Next EV Powerhouse in the Western Balkans? German Next.e.GO Announces €130M North Macedonia Investment

German electric vehicle Next.e.GO will build a micro factory in North Macedonia, its third worldwide, with the first being the in-production Aachen and the second being currently built in Bulgaria. 
Image credit: Next.e.GO
, ~

 • Next.e.GO’s facility in North Macedonia will be the company’s third MicroFactory worldwide, in addition to the in-production Aachen, Germany MicroFactory and the in progress MicroFactory in Bulgaria.

 • Production capacity of up to 30,000 vehicles per year, with the start of production expected to be in the last quarter of 2024.

 • Investment to be worth over €130M and create more than 900 jobs.

German electric vehicle Next.e.GO will build a micro factory in North Macedonia, its third worldwide, with the first being the in-production Aachen and the second being currently built in Bulgaria. 

During a public ceremony at the project site near the city of Tetovo in the western part of the country, the parties signed a definitive agreement, based on which e.GO plans to build a 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,” Next.e.GO told The Recursive in a statement. 

The electric “e-Go” car that is going to be produced in North Macedonia is expected to provide a sustainable, innovative and economical transport, without harmful gas emissions. 

A snowball effect for North Macedonia’s economy

According to North Macedonia’s prime minister Dimitar Kovachevski, the investment is of great importance for the state, but also for the local economy and the development of the city of Tetovo.

“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 ecosystem, attractive investment climate and access to driven and talented human capital,” Ali Vezvaei, Chairman of the board of e.GO, said in a statement.

Read more:  Mapping Carbon Technology Startups and Projects in Central and Eastern Europe

North Macedonia’s authorities are now hoping that the investment will have a snowball effect and attract new foreign and domestic investments. 

“They create new value, strengthen exports by changing their structure towards products with greater added value, create new jobs and influence the acceleration of economic activity and economic development,” North Macedonia’s finance minister Fatmir Besimi said in a statement.

Headquartered in Aachen, Germany, Next.e.GO designs and manufactures battery electric vehicles using proprietary technologies and low cost MicroFactories, and has vehicles already on the road today.


Thank you for reading The Recursive!

Over 1 million people from all over the world have learned about the tech ecosystem in Central and Eastern Europe thanks to The Recursive. In order to keep our content free for everyone, we need your help. If you believe what we do is important and have the means to do so, support us in giving a voice to Central and Eastern Europe with as little as €7. Thank you!

DONATE Keep reading this article

Help us grow the emerging innovation hubs in Central and Eastern Europe

Every single contribution of yours helps us guarantee our independence and sustainable future. With your financial support, we can keep on providing constructive reporting on the developments in the region, give even more global visibility to our ecosystem, and educate the next generation of innovation journalists and content creators.

Find out more about how your donation could help us shape the story of the CEE entrepreneurial ecosystem!

One-time donation

You can also support The Recursive’s mission with a pick-any-amount, one-time donation. 👍

Bojan is The Recursive’s Western Balkans Editor, covering tech, innovation, and business for more than a decade. He’s currently exploring blockchain, Industry 4.0, AI, and is always open to covering diverse and exciting topics in the Western Balkans countries. His work has been featured in global media outlets such as Foreign Policy, WSJ, ZDNet, and Balkan Insight.