The date of production of the first electric car in Georgia has been postponed to 2022, announces Georgian Economy Minister Natia Turnava.
She said that the coronavirus pandemic prevented the investor from starting the production of electric cars and the company will be given extra time to fulfill its obligations.
It is so important for us to develop a green economy and at the same time strengthen Kutaisi as an industrial center. We will support the investor to fulfill this task", Turnava said.
The electric car factory is located in Kutaisi, western Georgia. It was announced that the factory would start producing electric cars to appear on local as well as EU markets in 2020.
Big Service Ltd was given land and buildings located on it worth 68.23 million GEL for 1 GEL in 2019 with investment commitments to set up an electric car manufacturing factory within no more than two years (no later than 27.05.2021) and then produce at least 5,000 units of electric cars within no more than 18 months.
In addition, the company was obliged to employ at least 300 people for at least 18 months within a period of not more than one year after fulfilling the obligation to launch a factory.
If the company fails to fulfill its obligations in due time and the state does not defer fulfillment of obligations, the contract stipulates a fine of 500 GEL from the day of violation of the obligation on each overdue day for not setting up the electric car factory and 50 GEL for not employing 300 people.