June 3, 2021 – South Korea’s Kyungshin Group has officially opened its new production operation that will produce battery components for high-tech electric vehicles, in the Guberash industrial zone of Smederevska Palanka in Serbia.

The website for the Kyungshin Group, which supplies the auto industry, notes that customers include Hyundai and Kia. It also has production facilities in China, India, Honduras and Poland. Among those attending the grand opening ceremony was Serbian President Aleksandar Vucic. Per the Development Agency of Serbia RAS at the company’s website, Kyungshin Cable Europe will supply the European market, and create 700 new jobs by the end of 2022.

Kyungshin Cable Europe is part of the Kyungshin Group, which also has facilities in the U.S., Mexico, China, Poland and South Korea. Founded in 1974, Kyungshin Cable’s core activity has been expanded from automotive and industrial wires and cables to the production of car parts for high- and low-voltage electric vehicles, in accordance with the new trends in the automotive industry.