BRATISLAVA, Slovakia — The Slovak government and Hyundai Mobis on Tuesday signed a memorandum of understanding on the South Korean company’s plan to build a plant for engines and other parts for electric cars in Slovakia.

Prime Minister Robert Fico said Hyundai Mobis will invest over 170 million euros ($185 million) in the plant, to be built in Novaky in western Slovakia.

The town is located in a region that relied for decades on brown coal mining until all the mines shut down recently and a major coal-fired power plant in Novaky was closed.

Fico said his government will provide some 26 million euros ($28 million) in incentives to the company for the project that should contribute to the post-coal transformation of the region.

Slovakia is the biggest carmaker per capita in the world.

Germany’s Volkswagen; multinational Stellantis, previously known as PSA; South Korea’s Kia Motors Corp.; and U.K.-based Jaguar Land Rover already have major plants in Slovakia, a Central European country of 5.5 million people.

Swedish luxury vehicle maker Volvo Cars plans to open an electric car plant in Slovakia in two years.

With everything from shopping small to the hottest gifts, even where to eat while you are on a mall marathon, NewsdayTV's Elisa DiStefano and Newsday deputy lifestyle editor Meghan Giannotta have it covered.  Credit: Randee Daddona; Newsday / Howard Schnapp

NewsdayTV's ultimate holiday shopping show With everything from shopping small to the hottest gifts, even where to eat while you are on a mall marathon, NewsdayTV's Elisa DiStefano and Newsday deputy lifestyle editor Meghan Giannotta have it covered. 

With everything from shopping small to the hottest gifts, even where to eat while you are on a mall marathon, NewsdayTV's Elisa DiStefano and Newsday deputy lifestyle editor Meghan Giannotta have it covered.  Credit: Randee Daddona; Newsday / Howard Schnapp

NewsdayTV's ultimate holiday shopping show With everything from shopping small to the hottest gifts, even where to eat while you are on a mall marathon, NewsdayTV's Elisa DiStefano and Newsday deputy lifestyle editor Meghan Giannotta have it covered. 

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