Revoz to Be Provided €45.5m Grant for New Project

Revoz to Be Provided €45.5m Grant for New Project

The Renault-owned assembly plant will get the funds pending EU approval, the Government Communications Office said. The subsidy funds are to be awarded for a project, worth an estimated EUR 326m, to assemble in Novo mesto the next generation Renault Twingo and Smart Forfour as part of the Edison projects, a joint venture between Renault, Nissan and Daimler Benz.

The two models built in Slovenia will have the same chassis, while the exterior will differ depending on the make. The plant will also produce electric versions of both cars. The start of production is planned for end of 2013. Revoz expects to produce some 194,200 Edison project cars in 2014. Production of the two cars is planned at least until 2019.
Source: STA

The Slovenian government has granted a €45.5 million subsidy to the Novo-mesto based car maker Revoz