ZF Friedrichshafen started construction on an electric powertrain factory in Pancevo, Serbia. The company is planning to invest €160m in the project and hire up to 1,000 people to work at the factory. The first phase is scheduled for completion by 2021 and will include the development of a 25,000 sqm facility on a 10.8 ha site. Construction on a second 25,000 sqm building will start in 2022. ZF Friedrichshafen operates in 40 countries. In 2017, it posted €36.4bn in revenue.
