Foreign-owned automotive suppliers in Serbia expand into EV-focused production

Serbia’s automotive supplier industry is increasingly shaped by foreign equity, with multinational groups running export-oriented supplier platforms across the country. The sector has evolved from a post-Zastava recovery model built around wire harnesses, seat covers, tyres and labour-intensive component assembly into a wider base serving European and global vehicle producers. Companies from Germany, Japan, China, South Korea, Turkey, France, the United States, Canada and Ireland are represented in Serbian manufacturing.

EY Parthenon’s 2025 automotive sector review estimates that Serbia’s automotive sector includes around 130 companies. It exports about €8 billion, employs more than 100,000 workers, and produces products ranging from tyres and wire harnesses to engine components, electronics and complete vehicle assembly. The review describes the sector as both a major industrial export engine and one of the most exposed parts of Serbia’s economy to changes in the European automotive market.

Foreign ownership dominates supplier platforms and investment decisions

While Serbia has domestic subcontractors and service providers, the main export-driving supplier platforms are controlled by multinational groups. The industrial backbone includes Bosch, Continental, ZF, Brose, PWO, Kromberg & Schubert, Leoni, Michelin, Goodyear/Cooper, Toyo Tire, Nidec, Johnson Electric, Yura, Aptiv, Lear, Magna, Yanfeng, Minth and Teklas. Serbia’s Development Agency lists global investors such as Bosch, Michelin, ZF, Rivian, Brose, Toyo Tires, Continental, Yangfeng and Minth among leading foreign investors.

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In its automotive-sector materials, Serbia highlights Continental, Bosch, ZF and Brose as investors supporting more complex manufacturing and R&D activities. The German-owned layer is described as the most technologically visible within the supplier network. Bosch runs production and R&D for automotive wiper systems in Pećinci and later added production of window regulators. Local sources say the Pećinci operation was expected to reach around 3,000 employees after a new unit opened.

German suppliers build electronics and e-mobility capabilities

Continental has positioned Novi Sad as an automotive electronics centre. Its Serbian R&D centre employs close to 1,000 engineers, the Novi Sad factory has around 1,500 employees, and the Subotica plant employs about 1,400 workers producing hose and fluid systems. ZF Friedrichshafen is identified as Serbia’s most important e-mobility anchor among German suppliers.

ZF’s Pančevo site opened as part of its e-mobility expansion and produces electric-drive-related components. ZF also operates in Belgrade and Novi Sad. Brose’s Serbian position in Pančevo focuses on electric motors, drives and electronics under a project estimated at around €180 million. Products include cooling fan motors, electronics and electric oil pumps.

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EV-linked components expand alongside tyre manufacturing

The shift in supplier activity is reflected in investments connected to electrification and advanced systems rather than only cost-based assembly. Nidec opened factories in Novi Sad for automotive motors, inverters and ECUs. Johnson Electric produces electric motors primarily for automotive applications in Niš and has expanded into a larger production platform; RAS cites more than 1,700 employees.

Toyo Tire Serbia operates in Inđija where production began in 2022. RAS says the plant employs 638 workers and produces around five million tyres annually. The company has also launched an R&D centre focused on advanced tyre technologies and materials.

Tigar Tyres, operating through Michelin in Pirot, remains one of Serbia’s established foreign-owned export manufacturers. Earlier investment increased annual production capacity to around 12 million passenger tyres, with exports accounting for the overwhelming majority of output. US-owned Goodyear Serbia operates the Kruševac tyre manufacturing platform following Goodyear’s acquisition of Cooper Tire; EMIS lists it with 1,185 employees in 2024.

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Chinese investment targets interiors and EV-related structures

The Chinese-owned layer is described as becoming more strategic within Serbia’s supplier base. Yanfeng opened its Kragujevac automotive interiors plant in 2019, initially targeting up to 800 employees. EMIS data for 2024 lists 1,792 employees at the site alongside strong revenue growth.

Minth, already present in Loznica and Šabac, is cited as one of China’s most aggressive industrial investors in Serbia. Public announcements in 2025 said Minth planned €950 million of new investment in plants in Leskovac and Ćuprija creating 2,800 jobs, while the group already employed around 3,500 workers in Serbia. Separately, Minth’s earlier EV-related investment plan was described at €870 million.

M&A reshapes wiring-harness supply chains amid restructuring risks

The Leoni case illustrates how ownership changes can coincide with restructuring pressures within labour-intensive supply chains. Leoni’s Serbian operations were historically linked to a German wiring-harness model before Luxshare-ICT took majority control. Leoni announced in July 2025 that Luxshare became majority owner after a share purchase was completed.

Leoni later said Luxshare increased its holding to 74.9% in April 2026. At the same time as ownership shifted, Leoni moved to close its Malošište plant cutting around 1,900 jobs. This sequence is presented alongside broader exposure of wiring-harness employment to global group decisions on capacity.

Korean wiring harnesses expand employment but remain tied to vehicle volumes

The Korean- and Irish-owned wiring-harness segment remains large but exposed due to labour intensity and price sensitivity. Yura Corporation—owned by South Korea’s Yura—operates Serbian factories including Niš and Leskovac supplying wiring harnesses for Hyundai and Kia European plants. Aptiv produces automotive wiring harnesses in Serbia including a Leskovac operation that opened in 2019.

Aptiv’s Leskovac facilities supplied customers such as Mercedes-Benz and Volkswagen according to the company references cited. These plants are described as important for employment especially across southern Serbia while remaining closely tied to European vehicle volumes.

Lear seats textiles expand while PWO pursues electrification components near Čačak

Lear Corporation d.o.o. Novi Sad is listed by EMIS with 2,[1]

Lear seating systems employment figures cited by EMIS for 2024 include 2,052 workers at Novi Sad operations; Magna Seating reports 3,045 employees at Odžaci.

PWO near Čačak plans engineering and production for electrification safety comfort metal components; Teklas supplies hose lines for Volkswagen Audi PSA Porsche customers.

Toyo Tire Serbia Inđija production began 2022; Michelin Tigar Tyres Pirot capacity around 12 million passenger tyres annually; Goodyear Serbia Kruševac lists 1,185 employees in 2024.

Nidec Novi Sad factories produce motors inverters ECUs; Johnson Electric Niš employs more than 1,700 workers producing electric motors primarily for automotive applications.

Zf Pančevo site produces electric-drive-related components; Brose Pančevo project estimated around €180 million includes cooling fan motors electronics electric oil pumps.

Bosch Pećinci wiper systems production R&D adds window regulators expected around 3,000 employees after new unit opened; Continental Novi Sad electronics centre includes close to 1,000 engineers plus about 1,500 factory employees.

Zf footprint also includes Belgrade and Novi Sad locations; Continental Subotica plant employs about 1,400 workers producing hose fluid systems.

Aptiv Leskovac operation opened 2019 supplies Mercedes-Benz Volkswagen; Yura Niš Leskovac supplies Hyundai Kia European plants via wiring harnesses.

Aptiv is Irish-headquartered successor to Delphi electrical architecture business producing wiring harnesses including Leskovac operation opened 2019.

PWO says new engineering production site will create more than 500 jobs developing manufacturing metal components systems for electrification safety comfort with climate-friendly lightweight construction focus.

Teklas operates Serbian expansion plans targeted thousands of workers across Vladičin Han and Vranje producing cooling heating electric hybrid engine brake hose lines for Volkswagen Audi PSA Porsche.

PWO near Čačak expands metal components for electrification safety comfort while Teklas grows fluid systems output across southern sites