German battery maker Varta is looking at Romania as a potential location for a EUR 1 billion investment in a new unit that would produce batteries for electric cars, according to Roxana Manzatu, a state secretary within the Ministry of Investments and European Projects.

“The company targets Romania for a strategic investment of EUR 1 billion in a new unit that will produce batteries for electric cars. We have set the framework for potential options to finance parts of this investment from EU funds,” Manzatu said on Friday, March 4, quoted by Mediafax.

“The unit will use high technologies and well-qualified and competitive workforce,” she added.

Varta Microbattery, a division of the German group, has a factory in Brasov, Romania, which was opened in 2014.

(Photo: Oleksandr Lutsenko | Dreamstime.com)

andrei@romania-insider.com