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Second car maker to come to Serbia by 2014, Tadic

10. March 2012. | 08:57

Source: Tanjug

Serbian President Boris Tadic has said he hopes another major car manufacturer will come to Serbia in the next two years, adding that the joint venture with Fiat and the production of the new Fiat 500L should help boost foreign investments.

Serbian President Boris Tadic has said he hopes another major car manufacturer will come to Serbia in the next two years, adding that the joint venture with Fiat and the production of the new Fiat 500L should help boost foreign investments.

In an interview for the Wall Street Journal, Tadic said he expects Serbia will start accession talks with the EU by the end of the year, after it secured candidate status earlier this month.

“But you never know. It’s up to the EU,” added the president. The New York-based daily writes the interview with Tadic was conducted at the premiere of Fiat's new model at the prestigious Geneva car show.

The article talks about Serbia's success in attracting Fiat to Kragujavac, and notes the country is promoting itself as a regional industrial hub in the Balkans.

Production on the 500L will start in May and the plan is to have it in showrooms across Europe by the fourth quarter. By 2013, it will be shipping it to the U.S, writes the Wall Street Journal.

The Kragujevac plant has a production capacity of 200,000 units per year, which can later be increased to 300,000, according to the paper.

The plant reflects a trend among car makers looking to reduce production costs by opening plants in countries which offer a cheaper work force, tax breaks and subsidies, writes the Wall Street Journal.

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