Enterprise Greece and Next.e.GO Mobile SE Letter of Intent for electric vehicle manufacturing project

Thursday, 17 December 2020

Athens, 16/12/2020 I Enterprise Greece, the Greek state investment and trade promotion agency, and Next.e.GO Mobile SE, a German manufacturer of electric vehicles, have reached initial agreement on establishing an electric vehicle production facility in Greece.

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Enterprise Greece and Next.e.GO Mobile SE Letter of Intent for electric vehicle manufacturing project

Athens, 16/12/2020 I Enterprise Greece, the Greek state investment and trade promotion agency, and Next.e.GO Mobile SE, a German manufacturer of electric vehicles, have reached initial agreement on establishing an electric vehicle production facility in Greece.


In a Letter of Intent signed 16 December, the two parties agreed on an “in principle collaboration” and, as a result, will form a working group to detail the framework and conditions for the implementation of a full-scale manufacturing facility of the German company in Greece.

Encouraged by the attractive business climate of the    country    and     its     highly-skilled human resources, Next.e.GO Mobile SE also intends to establish a Technology and Innovation Campus (TIC) in Greece.

A high-level delegation from Next.e.GO SE met with the respective ministries in Greece for the signing of the LOI. The working group will be led by Mr. George Filiopoulos, CEO of Enterprise Greece, and Prof. Ulrich Hermann, CEO of Next.e.GO Mobile SE.

A final agreement is expected to be ready within three months, and that the full project will be implemented over a period of 24 months -- positioning Greece as one of the pioneering European nations in enhancing e-mobility through the building of local production capacity. The agreement with Next.e.GO Mobile SE comes just weeks after the Greek government and the Volkswagen Group, one of the world’s leading automakers, announced an agreement for a groundbreaking e-mobility project on Astypalaia, transforming the island into the first smart, green island in the Mediterranean with energy autonomy.

 

Commenting on the agreement, Deputy Foreign Minister for Economic Diplomacy and Openness, Mr. Kostas Fragogiannis, noted:

 “Greece is making a dynamic return as an investment destination. This agreement opens up new prospects for our country. The facility will have a production capacity of up to 30,000 vehicles per year and is expected to create nearly 1,000 direct -- and up to 5,500 indirect -- jobs. With this agreement, Enterprise Greece is highlighting the reforms Greece has undertaken and which have strengthened the country’s economic diplomacy. We still have a lot of work ahead of us for its implementation, but also in facilitating other businesses that will help revive industrial production in our country.”

Mr. Filiopoulos, the CEO of Enterprise Greece, who signed the agreement on behalf of the Greek government, noted:

“The Letter of Intent that we signed today with Next.e.GO Mobile SE, the German manufacturer of electric vehicles, marks the beginning of the journey for implementation of a large scale project and production facility in our country. It proves in practice what we have said since the beginning of the pandemic: that Greece continues to see increased investment projects with a significant impact on the national economy. Enterprise Greece continues to raise the country’s visibility and to promote its image abroad, while successfully attracting innovative partners that add value to the Greek economy, even under undoubtedly adverse conditions caused by a global pandemic.”

Mr. Ali Vezvaei, Member of the Management Board of Next.e.GO Mobile SE and CEO of nd Group BV said:

“At Next.e.GO Mobile SE we focus on true life-cycle sustainability. This includes, not only the electric car and its innovative production system, but also the positive economic impact it provides to the countries by unlocking employment potential, technology flow and enhancing industrial clusters. Our engagement with Greece is a great example of how cooperation between public and private sectors could provide long lasting benefit, not only to the climate but also to the communities.”

 Prof. Hermann, CEO of Next.e.Go Mobile SE stated:

“The design and characteristics of e.GO Life and its industry 4.0 production technology on the one hand, and the versatile business models it enables on the other hand, positions Next.e.GO Mobile SE perfectly to transform urban mobility across Europe and beyond. Greece’s focus on carbon-free mobility perfectly resonates with our mission at Next.e.GO Mobile SE. We are determined to make this cooperation a success and look forward to making substantial progress in the next weeks and months.”

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