Vucic: Germany's Muehlbauer developing unique technology in Serbia

STARA PAZOVA - At a cornerstone-laying ceremony for a new Muehlbauer Group plant in Stara Pazova near Belgrade, Serbian President Aleksandar Vucic said the factory was a major investment by the German tech giant, which he noted had come to Serbia to develop novel technology no one else in the world had.

The plant will develop and assemble batteries and fuel cells for electric vehicles.

Muehlbauer also produces microchips for Elon Musk and famous companies worldwide, Vucic said, adding that the Stara Pazova factory was a 30 mln euro investment and would hire 150 workers with average salaries of 900 euros.

"Josef Muehlbauer started out on his own in a shack and went on to build an entire city in a Bavarian forest," he said.

There used to be just a few production plants in Stara Pazova in the past, and an entire industrial park and even a city are under construction here now, Vucic noted.