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After the implementation of the second stage of development, Continental’s investments in Kaunas will reach 185 million. euros.
The company is expected to create another 500 jobs in the Kaunas district by 2025; their number will reach 1.5 thousand, announced the foreign investment development agency Invest in Lithuania.
According to the agency, Kaunas will continue to produce automotive electronics for safety, comfort and autonomous driving functions.
“The positive experience and all kinds of support we receive from the community, our partners and institutions in Lithuania allow us to believe that the Kaunas plant is ready for the development project,” said Shayan Ali, director of Continental Automotive Lithuania.
The Minister of Economy and Innovation Aušrinė Armonaitė stated that the arrival of Continental is one of the factors that allowed Lithuania to be on the map of the automotive industry.
“Manufacturers of automotive components have the largest number of projects attracting foreign direct investment in Europe, so now Lithuania has many opportunities,” the minister said in the report.
At the time, Invest in Lithuania director Mantas Katinas emphasized that Continental’s arrival had encouraged Lithuania to strive to become a place of choice for famous automotive component suppliers.
The area of the Continental plant will increase by 15 thousand. kv. meters – only the production area will increase by 10 thousand. kv. meters, office space and storage – 3 thousand. and 2.5 thousand. kv. meters. Construction should begin in the first quarter of this year.
Continental started operating the new plant in Kaunas district at the end of 2019. The company’s plant was the largest investment in the manufacturing sector in Lithuania in 20 years.
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