Summary
Slovakia has become a major player in car manufacturing, producing nearly a million cars a year, which is the highest per capita in the world. Major car companies like Kia, Volkswagen, Stellantis, and Jaguar Land Rover produce vehicles there. Slovakia's low labor costs and high productivity have attracted these manufacturers.
Key Facts
- Kia's plant in Zilina, Slovakia, produces up to 350,000 cars every year.
- Major car companies, including Volkswagen, Stellantis, and Jaguar Land Rover, manufacture cars in Slovakia.
- Slovakia produces almost one million cars annually, which is the highest per person worldwide.
- Kia's factory represents a €2.5 billion investment and is a significant part of its European operations.
- Employees at Kia's plant typically earn higher than Slovakia's national average salary.
- The country's labor costs are lower compared to Western Europe, but productivity is high.
- Foreign investments in Slovakia's car industry began after the fall of communism and have continued due to favorable economic conditions.
- Slovakia's automotive industry shifted significantly post-1989, transforming into a robust sector with foreign investments.
