Cabinet green-lights over €5-million investment aid for production of e-car components

Volkswagen's plant in Martin will manufacture differential gears for electric cars.

The autimotive industry is one of main pillars of the Slovak economy. The autimotive industry is one of main pillars of the Slovak economy. (Source: Courtesy of VW SK)

The cabinet on Wednesday, February 19, greenlighted a €5.035 million investment stimulus for the Slovak arm of the German carmaker Volkswagen in the form of income tax relief. With the provision the carmaker will support its €14.4-million investment at its Martin-based plant, where it wants to build new capacities to boost e-mobility development.

“We are interested in continuing to support innovations and all new elements in the automotive industry,” said Economy Minister Peter Žiga (Smer) after the cabinet session, as cited by the TASR newswire. “This is why we have decided to support the activity of Volkswagen.”

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