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News/ Laying the Foundations: ZF Group Building a Factory in Serbia
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21/06/2018
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The Karanović & Nikolić team, led by Senior Partner Marjan Poljak and Senior Associates ⃰ Ana Stanković and Ana Luković, advised ZF Friedrichshafen AG on the project of opening an electric vehicle parts factory in Pančevo, Serbia. The German company, a global leader specialising in the design, research and development, and manufacturing activities in the automotive industry, laid the foundations and began construction on 21 June 2018.

Karanović & Nikolić advised ZF in this greenfield investment on all local law aspects of this project. The team provided full support in a number of different areas, including corporate, real estate, employment etc.

The new 25.000 square metres factory, which is being built on a land parcel of 10.8 hectares, will produce parts for electric and hybrid-electric vehicles and will service premium automotive manufacturers. The project will be realized in two stages and will open more than 1,000 new jobs. The planned investment amounts to more than EUR 100 million.

ZF operates in 40 countries around the world and has a global workforce of over 146,000 employees. In 2017, it recorded sales of EUR 36.4 billion. The company invests more than six percent of its sales in research and development annually, in particular for the development of efficient and electric drivelines.

ZF group is committed to its Vision Zero – zero accidents and zero emissions being the end goal of all the company's activities.

 

 

*Independent attorneys at law in cooperation with Karanović & Nikolić.

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