Chinese auto manufacturer SAIC is considering the construction of a new electric car plant in Slovakia. The company is looking to begin production in Europe as early as 2027, but has yet to select a country for the new plant. Right now, Hungary, the Czech Republic, Spain, and Slovakia are considered preferred locations.
Critics of the plan point to the lack of qualified job applicants, inadequate infrastructure and the deteriorating business environment. "Improve the laws and reduce the administrative burden… Slovakia does not live in some closed bubble. We are also competing with other neighboring countries for the location of this investment, which means certain investment incentives," said the General Secretary of the National Union of Employers, Martin Hošták.
The arrival of Chinese investments is also associated with concerns about compliance with European standards and regulations.
"They collect a lot of data, they evaluate it. About the driver, about your surroundings. And we are simply not sure whether, in practice, European Union regulations are sufficiently bulletproof so that we can be sure there no data leaks," stated Adapt Institute analyst Viliam Ostatník.
The final decision on which European country hosts the Chinese investor will be made in September. The automotive industry is the most important sector of the Slovak economy, but the economy is already running into production challenges.
Source: STVR
