Skopje, 8 March 2024 (MIA) – Due to insolvency of the parent company, the execution of the state aid agreement with e.GO is being suspended, as well as every procedure related to the granting of public funds to the company, said the Directorate for Technological Industrial Development Zones in a press release Friday.

“The decision comes as a result of publicly available information regarding the application for insolvency proceedings filed by the parent company in the Federal Republic of Germany. The application has been filed in relevant courts in the country. Therefore, the Directorate for TIDZ, as a representative of the Government, is activating the protective mechanisms from the signed agreement which includes these circumstances as prerequisites for the suspension of state aid,” said the Directorate.

The Directorate stressed that despite requests from the investors, no funds have been granted to the company so far.

“In all further steps related to this project and future activities over its potential realization, the TIDZ Directorate, as a representative of the Government in this agreement, will act to protect the public interest and provide timely information,” said the Directorate.

German company e.GO was supposed to produce electric vehicles in TIDZ Tetovo.

Photo: MIA Archive