Xingyu Automotive Lighting Systems invests €60m in new Serbian factory

Xingyu Automotive Lighting Systems, a Chinese companz, is investing €60m in a new factory in Nis, Serbia. It's committed to buy the land for €7.5m by the end of 2023, with the understanding that it will put another €32.7m into the plant's construction and €19.6m for the new equipment. Work on the factory will be completed next February, by which time the company hopes to have taken on the 1,000 employees it will needs. The factory will be built in Nis and will be engaged in the production of LED headlights for cars.