AUTOMECHANIKA 2024: Greece as an Investment Hub for the electric mobility sector – New Perspectives and Opportunities
Athens, 27 September 2024 | Greece is emerging as a key destination for productive investments in the electric mobility sector, leveraging the opportunities created by the global transition to a green and sustainable economy. With strategic government initiatives, rapid development of renewable energy sources, and its prime geographical location, Greece offers an ideal environment for investors looking to enter the electric mobility market. This was the central conclusion drawn from Enterprise Greece’s participation at this year’s Automechanika 2024 international exhibition.
Automechanika, the largest global exhibition in the automotive industry, took place in Frankfurt from September 10 to 14. The event annually attracts over 4,000 exhibitors from 80 countries and is visited by professionals from 175 nations.
This year’s exhibition focused on key themes such as electrification, sustainability, remanufacturing, the circular economy, and the future of connected and autonomous driving. Special events like Innovation4Mobility showcased cutting-edge technologies in e-mobility, alternative fuels, digital transformation, and artificial intelligence in vehicles, as well as innovations in autonomous parking and driving. The exhibition also presented the latest advancements in electrical and electronic systems, digital solutions, diagnostic applications, wheels, braking systems, and modern automotive components.
Enterprise Greece held 96 business meetings during the event, aiming to inform large and medium-sized companies about Greece’s economic performance, improving investment climate, and the numerous advantages the country offers in the electric mobility sector. These include:
1. Strategic geographical position as a hub connecting Europe, Asia, and Africa.
2. Government incentives such as subsidies for electric vehicle purchases and tax benefits for companies investing in electric mobility infrastructure.
3. A revised regulatory framework that mobilizes productive investments in manufacturing and industry, utilizing resources from the Recovery and Resilience Fund (RRF).
4. Abundant renewable energy potential, with solar and wind resources positioning Greece as an ideal destination for green and sustainable electrification solutions.
5. Tourism-related opportunities, such as investments in electric vehicle fleets and charging station installations in popular tourist destinations.
Commenting on Greece’s promising future in electric mobility, Dr. Marinos Giannopoulos, CEO of Enterprise Greece, stated:
“In recent years, we have seen a growing trend of foreign direct investment in Greece, with a clear shift towards knowledge-intensive and high-added-value sectors, including manufacturing. According to the most recent Foreign Direct Investment attractiveness survey conducted by Ernst & Young, manufacturing ranked third in 2023, attracting 12% of total investments. The survey also highlighted that 44% of companies plan to expand their presence in Greece within the industry, making it one of the most promising sectors for the future. Electrification and its related manufacturing activities are crucial in driving this qualitative investment shift, positioning Greece as a key reference point in the wider region. Our country offers a wide range of investment opportunities in electrification, from constructing electric vehicle charging networks in urban areas and along highways, to the import, assembly, and recycling of electric vehicles and batteries, and the development of smart energy grids to support the growing electric vehicle fleet.”
.<br />4. Abundant renewable energy potential, with solar and wind resources positioning Greece as an ideal destination for green and sustainable electrification solutions.<br />5. Tourism-related opportunities, such as investments in electric vehicle fleets and charging station installations in popular tourist destinations.</p>
<p>Commenting on Greece’s promising future in electric mobility, Dr. Marinos Giannopoulos, CEO of Enterprise Greece, stated:<br />"In recent years, we have seen a growing trend of foreign direct investment in Greece, with a clear shift towards knowledge-intensive and high-added-value sectors, including manufacturing. According to the most recent Foreign Direct Investment attractiveness survey conducted by Ernst & Young, manufacturing ranked third in 2023, attracting 12% of total investments. The survey also highlighted that 44% of companies plan to expand their presence in Greece within the industry, making it one of the most promising sectors for the future. Electrification and its related manufacturing activities are crucial in driving this qualitative investment shift, positioning Greece as a key reference point in the wider region. Our country offers a wide range of investment opportunities in electrification, from constructing electric vehicle charging networks in urban areas and along highways, to the import, assembly, and recycling of electric vehicles and batteries, and the development of smart energy grids to support the growing electric vehicle fleet."</p>/sddefault.webp)