Leading German automotive parts company Continental has broken ground on a new plant in Lithuania’s second city, Kaunas. The plant, which will cost €95 million, is expected to provide up to 1000 new jobs over the next 5 years. Electronic passenger safety and smart driver assistance systems will be made on the site. This is the largest single invest a company has made in Lithuania in 20 years. At the ground breaking ceremony Lithuanian President Dalia Grybauskaite emphasized the importance of the investment. “Not only are we receiving a German investment, but also starting very innovative production. It will create jobs, and not simple jobs, but jobs with a high added value.” The plant is expected to come online in August 2019.
