Draxlmaier plans to build the first battery factory for electric cars in Romania, where several other German auto-components producers are also planning investments.
Significant investments in Romanian AI start-ups TypingDNA and Fintech OS in the final quarter of last year placed Romania among the leading countries in Eastern Europe.
Chatham House analyst warns Erdogan administration has built “quick turnaround on vast amounts of cheap credit”, generating “a rapid growth spurt akin to a modestly able professional sprinter injected with steroids”.
Company plans to expand to UK, South America. Co-founder of Russia's leading internet company Yandex, Arkady Volozh, has invested personal funds in the enterprise.