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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
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 • 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.

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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.

 

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https://therecursive.com/author/bojanstojkovski/

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.
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