2022/08/13

The Destani family started a new era of investment in Tetovo


The cornerstone of a new Factory production facility for electric vehicles was laid in Tetovo today, an investment by Destani family.

During a public ceremony at the project site attended by several North Macedonian state officials, including Prime Minister Dimitar Kovacevski, Minister of Finance Fatmir Besimi, Minister of Economy Kreshnik Bekteshi and the Director of Technological Industrial Development Zones (TIDZ), Jovan Despotovski, the parties signed a definitive agreement, based on which e.GO plans to build a MicroFactory production facility for its battery electric vehicles with expected capacity of up to 30,000 vehicles per year. Start of production of the new facility is currently projected to be in the last quarter of 2024. The project is intended to create up to 900 new jobs in the country.

Being present at the inauguration ceremony of this factory in North Macedonia, entrepreneur Lazim Destani said that this project is not his family’s first investment in North Macedonia and the region, but it is yet the most special so far.

“Today is a historic day for me. It’s so, as our business brings here an innovative industry, the production of electric cars, the cars of the future. About 50 years ago, looking for more job opportunities, I chose the path of emigration to Germany, and today I feel very happy that we are bringing the opportunities of Germany here in our country. What makes me the most happy is the fact that many young men and women will be employed at this factory. My wife Rasime and I feel happy when we see our sons following our advices. They make us very proud, especially with their dedication to the homeland”, said Destani among others in his speech.

While the Prime Minister of North Macedonia Mr. Dimitar Kovacevski described this day as a day where the results of the invested effort become visible. “This investment is of great importance for the state, but also for the local economy and the development of human potential in Tetovo and in the country. With this significant investment, North Macedonia once again confirms that it is a country that offers excellent conditions for investors, with a stable economic and political climate in which international companies like e.GO have a trusted partner,” he said.

The Minister of Finance of North Macedonia, Fatmir Besimi, reinforcing Mr. Destani’s words said, “It is very important for our country that the diaspora brings here its own investments. Since the day we started discussions about this project up to now there were many skeptics . Together we succeeded and today we are here, inaugurating the start of the project”, said Besimi.

His colleague, the Minister of Economy, Kreshnik Bekteshi, also described the project as historic for North Macedonia. In a figurative context, he compared this project to the snowball effect. “The investment in the first phase of 130 million euros is an impetus for many other benefits, it is the move that puts our country on the list of green investments. The construction of this factory also increases the cooperation between higher education and industry, as it will necessarily require people with professional skills for this industry. The Destani family is a family of success and an example that should be followed, it is a leading family with the decisions it makes,” said Bekteshi.

The Chairman of the board of e.GO, Ali Vezvaei, emphasized the importance of new generation investments. “This agreement is another key milestone in e.GO’s global growth and underscores the intrinsic value of our disruptive technology and innovation. We are truly excited to expand our production footprint to the Republic of North Macedonia, following our progress in Bulgaria. Our strategic focus in South East Europe is based on our conviction as to the region’s competitive eco-system, attractive investment climate and access to driven and talented human capital,” said Vezvaei.

“The new concept of Technology and Industrial Development Zones delivers concrete results. After only 18 months, we have the second investment of over 100 million euros. We have shown that North Macedonia is no longer just a country of competitive labor but is on the map of countries that have the capacity and requirements for large investments. At the beginning of my mandate, we promised European jobs and opportunities for young people. With such projects, we will provide our children with a prosperous future, here at home,” said Jovan Despotovski, the Director of Technological Industrial Development Zones of the Republic of North Macedonia.

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