Chinese manufacturer Jiangsu Xinquan Automotive Trim enters Slovakia

The Central and Eastern Europe region, especially Slovakia, Czechia and Hungary, has firmly established itself worldwide as a highly efficient car manufacturing hub, and in 2022 it overtook Germany in nominal car production. Asian companies (mainly from China, Japan and Korea) are part of this trend: they have been investing in Central and Eastern Europe continuously since 2000, and their investments will keep growing as Europe has become a key part of China's global expansion in the electric vehicle sector.

Ivan Pastier, Business Development Director for Slovakia at CTP, said:

"Given Slovakia's long-standing popularity in the automotive sector, it is no surprise that Jiangsu Xinquan Automotive Trim chose CTPark Prešov South for its first European plant. This deal shows not only how the automotive sector drives industry in Central and Eastern Europe, but also how popular the region is becoming with multinational companies thanks to its strategic location, developed transport infrastructure and educated workforce."

Mr Tang Zhihua, Chairman of the Board and CEO of Jiangsu Xinquan Automotive Trim, said:

"We look forward to opening our first factory in Europe with CTP in Slovakia, and CTPark Prešov South offers a strategic location with exceptional connectivity. The facilities at CTPark Prešov South will allow us to manufacture our products efficiently in a location that is closer to the end users."