Croatia’s P3M to build €535mn robo-taxi plant

Croatia’s P3M to build €535mn robo-taxi plant

/ bne IntelliNews

By bne IntelliNews June 29, 2023

Croatian technology company Project 3 Mobility (P3M) will launch the construction of a factory to produce robo-taxi vehicles in a project that is co-funded by the EU, the company’s CEO Marko Pejovic said.

The €535mn project is co-funded by the EU with a €179.5mn grant under Croatia’s recovery and resilience plan.

“In the next few months we shall start building a factory, for which we already have the design, for a serial production of autonomous electric vehicles in Croatia,” Pejkovic said during a signing ceremony for the grant.

The rest of the investment will come from P3M’s own funds.

P3M is co-owned by Croatian entrepreneur Mate Rimac, his Rimac Group and South Korea's Kia Corporation.

The project includes research, development and production of fully autonomous electric vehicles, supporting infrastructure and a software platform. It is part of a wider urban mobility project in the Croatian capital Zagreb.

The €179.5mn grant is the highest ever for a single research and development project approved by the EC, Croatia's Prime Minister Andrej Plenkovic said during the ceremony to sign the grant agreement.

He added that this is a pioneer project in Europe, which combines the green transition, the digital transformation, research and development. Disabled people will be able to use the robo-taxis for free.

#Croatia

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