SARIO contributed significantly to the development of the Horná Nitra region - Announcement of the Mobis investment

On October 15, 2024, the investment of Mobis Slovakia in Nováky, representing an investment of 174 mil. € which will create 281 new jobs, was announced. The production of electric car drives is expected to start in December 2025.

Communication between the investment projects department of the SARIO agency and the investor began, thanks to the Embassy of the Slovak Republic in Seoul, in April 2022. After presenting the project and defining the investor's requirements, SARIO prepared the first real estate overview with additional information about the Slovak investment and business environment, the labor market, and the possibilities of investment assistance. In the following months, there was intensive communication regarding individual properties, permitting processes, and the investor's schedule.

The first visit of the investor's project team to Slovakia, co-organized by SARIO, took place in October 2022. During the two-day program, SARIO ensured a visit to selected locations in the Žilina and Trenčín regions, together with meetings with representatives of the Ministry of Economy of the Slovak Republic, local governments, and other external partners (members of the Investment Support Association - ISA).

As a result of the first visit, the Nováky location was assessed as the most suitable within Slovakia (at this point the investor was still deciding between several countries and, in addition to Slovakia, also considered 2 other countries within the region of Central and Eastern Europe).

The second visit to the Nováky location was subsequently carried out in December 2022. After this visit, the project slowed down significantly and the investor's final decision was postponed. Despite this, SARIO and the Slovak Embassy in Soul tried to maintain regular contact with the investor. The project started again in full swing in the summer of 2023, when another meeting with the investor took place in Nováky in August.

An important milestone of the project was the meeting of the investor with representatives of the local government (City of Nováky, Prievidza District Office), the owner of the land, and external partners in Nováky in September 2023. During this meeting, the interest of all parties in implementing the project in the given location was presented and the city expressed full support of the project.

Subsequently, further working meetings took place with the investor in Nováky, specifically in November 2023 and January 2024, where the topics were mainly the technical implementation of the project, the schedule, and permitting processes, but also the possible support of the municipality in recruiting employees.

The investor's official decision on the location for the new electric drive production project was adopted in February 2024. On 15 October 2024, a memorandum was signed between the Government of the Slovak Republic and the Hyundai Mobis company, and investment aid was also approved for the company.

About Mobis Slovakia

The Korean company Hyundai Mobis, founded in 1977, represents one of the most important suppliers for the automotive industry worldwide. The Slovak entity Mobis Slovakia was founded in February 2004 in Gbeľany together with the arrival of the key customer KIA Motors. The production portfolio of the Slovak plant consists of several types of modules, namely the front mask, the instrument panel, and the module of both axles, as well as bumpers and brake systems. During its 20-year operation in the Slovak market, the company contributed to the better competitiveness of the local economy thanks to its strong orientation towards innovation. The company currently employs more than 2,100 employees, making it one of the most important employers in the region for a long time. We believe that the new plant in Nováky will be successful as well.