Economy Ministry Signs Memorandum with Battery Maker InoBat

Bratislava, October 24 (TASR) – Economy Minister Peter Ziga (Smer-SD) signed a memorandum of understanding with Jozef Urban, vice-chair of the board of directors of InoBat, on Thursday. The document should contribute to the smooth implementation of the company’s plan to build a plant for producing batteries for electric cars worth some €100 million in Slovakia. The plant’s location isn’t yet known. “It’s not about any particular assistance with construction. It’s rather about opening the door and legislation,” said Ziga. Slovak Investment and Trade Development Agency (SARIO) general director Robert Simoncic stressed that InoBat won’t only manufacture batteries; it’s ambition is to develop a brand new platform for the whole EU. “It’s a unique project. Slovakia is only the second country, following Sweden, where such production is being prepared,” added Simoncic. According to Ziga, the project is significant mainly for the automotive industry. “Production of batteries for electric cars doesn’t have strategic importance only for Slovakia, but for the entire EU,” added Ziga. The memorandum was signed at the 13th annual Slovak Cooperative Exchange, which was attended by 138 Slovak and 49 foreign firms from 15 countries. “This year, it’s focused on smart industry, innovations, automation, robotisation, electromobility and smart cities, i.e. key areas that we support as well,” stressed Ziga. Slovakia is one of the fastest-growing economies in Europe, with industry making up almost 25 percent of the country’s GDP. “Therefore, the future of our economy is connected with support for progressive and modern technologies. Though viewed by some people like this, these trends are not a threat, but an opportunity,” underlined Ziga.