In 2013, Serbia expects to generate $1.6 billion in revenue from car exports from Fiat’s factory in Kragujevac, which plans to produce around 160,000 vehicles by the end of this year, reported Radio-Television of Serbia.
According to the words of State Secretary in the Serbian Ministry of Economy, Aleksandar Ljubić, approximately 30,000 “fiat 500 L” cars were produced and exported from Kragujevac last year, and from the middle of this year, production of the extended version of the 500 L model is expected to begin, along with the start of exports to the U.S. market.
– Fiat’s plan for 2013 is to produce around 160,000 vehicles in Kragujevac – said Ljubić, emphasizing that the first reports from fairs and presentations of the new Fiat car produced in Serbia are ‘very positive’.
Ljubić also stated that there is no fear that Fiat, due to the economic crisis and pressures from Italian workers and unions, could relocate production from Kragujevac to Italy.
Fiat Automobiles Serbia (FAS) is a joint venture between Serbia and Italian Fiat, in which the state holds a 33 percent stake, while Fiat holds 67 percent.
The factory, valued at around one billion euros, was opened on April 16, 2012, and is described as the largest investment in Serbia in the past few decades, which is expected to significantly contribute to the recovery of the Serbian economy.
