Jiangsu Lianbo Precision Technology is a global leader in the production of metal parts for automotive engines, with major clients including renowned companies such as Volkswagen, Audi, Bosch, Brose, Nidec...

NOVI SAD, April 25, 2024 - Jiangsu Lianbo Precision Technology, a leading Chinese company specializing in the production of metal parts for various automotive engines, celebrated the grand opening of its first factory outside of China. Spanning 14,000 square meters in the Kać industrial zone of Novi Sad, the company will invest over €57.4 million and plans to employ 500 workers by 2026.

The inauguration ceremony was attended by Dzhangga Mayor Shuhai Shu, representatives from Jiangsu Lianbo, Chinese Ambassador to Serbia Li Ming, acting Deputy Prime Minister and Minister of Defense Miloš Vučević, Mayor of Novi Sad Milan Đurić, as well as representatives from the Development Agency of Serbia and other partners.

During his address, general manager of Jiangsu Lianbo, emphasized that while the company considered several European countries, Serbia was strategically chosen as the location for its European production base.

"We had the opportunity to establish a manufacturing base in Europe, and after careful consideration, we decided to come to friendly Serbia. Our mission is to become the standard in the global fast parts manufacturing industry for engines and the leading worldwide service provider in the automotive industry. Our desire is to become a secure and reliable global partner for our numerous clients." stated Xiao.

Ambassador Li Ming expressed satisfaction with the new Chinese investment, highlighting the growing cooperation between the two countries and noting that China has been the largest foreign investor in Serbia since 2022.

This sentiment was echoed by Mayor Milan Đurić, who confirmed the presence of numerous Chinese companies operating in Novi Sad.

Miloš Vučević, the acting Deputy Prime Minister and Minister of Defense, emphasizedthat Serbia would continue to cherish the steely Sino-Serbian friendship.

"This is not something that happens every day, but a result of serious work and a clear strategy," he noted.

Established in 2011, Jiangsu Lianbo Precision Technology is a global leader in the production of metal parts for automotive engines. Its products cater to the electric vehicle industry, including various types of stators and rotors for high-level vehicle motors, primarily used for EV propulsion motors, A/C systems, DSG engines, ABS motors, servo steering motors, oil pumps, seats, and more.

In 2022, the company achieved revenues of approximately €100 million, with major clients including renowned companies such as Volkswagen, Audi, NIO, Xpeng, Bosch, Brose, Nidec, Valeo, Nexteer, Mahle, ZF, Delta, Schaeffler, Hasco, Vitesco, BorgWarner, FDM, and Inovance.

PHOTO TANJUG/NENAD MIHAJLOVIĆ