Revoz, the Slovenian subsidiary of car maker Renault, officially launched the production of the new generation of the Twingo city car on Wednesday. First Twingo III cars are expected to hit the market in September.
The ceremony was attended by outgoing Prime Minister Alenka Bratušek, who said that Revoz is of extreme importance for the economic growth and for Slovenia as a whole.
Foreign investments, such as Revoz, are of key importance for boosting economic growth, securing economic stability, increasing the number of jobs and enhancing the overall well-being, she added.
The new production line is a part of the Edison project, which includes the planned production of the new Smart Forfour city car. The project is worth a total of EUR 450m, which will include EUR 22.5m in state subsidies from Slovenia.
Renault CEO Carlos Ghosn noted that Renault directly employs 2,150 people in Slovenia and an additional 5,000 people indirectly. A total of EUR 450m has so far been invested in the Novo mesto-based assembly plant, he added.
The plant with an annual capacity of 220,000 vehicles contributes 10% to Renault's output in Europe, while its market share in Slovenia stands at 16%.
According to Ghosn, the new Twingo and the upcoming Smart Forfour share the same platform because the producer wants to cut production costs and optimise the investment.
The new Smart Forfour, which will be presented at the Paris Motor Show in October, will share approximately 70% of its parts with the third generation Twingo.
Revoz announced before today's opening that it will employ an additional 270 workers by the end of the year, 200 of whom will sign fixed-term contracts.
Source: Slovenia Times
