An agreement laying the foundations for a major and particularly important investment with multiple benefits for Greece was signed in Greece on Wednesday, in the online presence of Prime Minister Kyriakos Mitsotakis. The production of a full range of electric vehicles in Greece “Electric Cars e.Go Made in Greece” was launched, with the first important step, the official signature of a “Letter of Intent to Cooperate” signed by Enterprise Greece and the company Next.e.GO SE, the only German company that manufactures battery-powered electric vehicles.
Also digitally present at the signing of the agreement were Development and Investments Minister Adonis Georgiadis, Alternate Development and Investments Minister Nikos Papathanassis and a number of government officials and representatives of Next.e.GO SE.
The project was presented by Deputy Foreign Minister for Economic Diplomacy Kostas Fragogiannis, while the CEO of Enterprise Greece Giorgos Filiopoulos signed the agreement with the Chairman of Next.e.GO SE Ulrich Hermann.

“Greece is returning dynamically to the investment map of big companies. A new prospect is opening up for our country through this agreement,” said Fragogiannis, noting that the installation will have the capacity to produce 30,000-45,000 cars a year and that the starting phase investment will be around 100 million euros, employing 1,000 people directly and supporting another 5,500 indirect jobs.
“Through this agreement as well, Enterprise Greece is highlighting the political value of the reform that strengthened economic diplomacy,” the deputy minister said, adding that a lot of work remains to be done to facilitate other business prospects that will revive the industrial sector in Greece. He noted that the project will make Greece one of the leading countries in Europe in electromobility by creating domestic production capacity.

The two sides agreed to an initial cooperation that will set up a working team to record the exact framework and the conditions for implementing this major investment by the German company in Greece, which will be added to the projects of strategic significance, coming under the relevant incentives framework, as Next.e.GO SE will also found a Technology and Innovation Campus in Greece, in addition to the car assembly plant, with respect for the environment and using domestic workers.
The full agreement is expected to be ready within the next three to six months and the project up to a fully functioning e.GO production unit in Greece is expected to be completed in 24 months.

“Greece is returning dynamically to the investment map of big companies. A new prospect is opening up for our country through this agreement,” said Fragogiannis, noting that the installation will have the capacity to produce 30,000-45,000 cars a year and that the starting phase investment will be around 100 million euros, employing 1,000 people directly and supporting another 5,500 indirect jobs.
“Through this agreement as well, Enterprise Greece is highlighting the political value of the reform that strengthened economic diplomacy,” the deputy minister said, adding that a lot of work remains to be done to facilitate other business prospects that will revive the industrial sector in Greece. He noted that the project will make Greece one of the leading countries in Europe in electromobility by creating domestic production capacity.
The two sides agreed to an initial cooperation that will set up a working team to record the exact framework and the conditions for implementing this major investment by the German company in Greece, which will be added to the projects of strategic significance, coming under the relevant incentives framework, as Next.e.GO SE will also found a Technology and Innovation Campus in Greece, in addition to the car assembly plant, with respect for the environment and using domestic workers.
The full agreement is expected to be ready within the next three to six months and the project up to a fully functioning e.GO production unit in Greece is expected to be completed in 24 months.
The investment plan includes the production of metal parts and other processes, aswell as the final assembly of vehicles and quality control. It will call for the hiring of specialised staff and their constant training at the central headquarters in Aachen, Germany and the founding of the technology campus to link scientific and technological research with production.
Filiopoulos said the signature of the Letter of Intent showed that the country is continuing to attract increased investment interest for projects that will have a significant impact on the economy.
On his part, Hermann noted: “The design and industrial characteristics of e.GO Life 4.0 production technology, on the one hand, and the flexible business cooperation models that it promotes, on the other hand, give Next.e.GO SE the opportunity to transform urban transport throughout Europe and beyond. The Greek government’s policy choice for carbon-free mobility perfectly meets our mission at Next.e.GO SE.”
He also highlighted the benefits for Greece, such as more jobs, the transfer of knowhow from Germany in a cutting-edge technological sector, and promoting Greece’s position in international markets as one of the leading European states in electromobility.

(ANA-MPA)