A. Armonaitė: Pon.Bike factory in Kėdainiai will create around 600 new jobs
Tomorrow, 10 September, Minister of the Economy and Innovation Aušrinė Armonaitė will attend the opening ceremony of the factory of the leading Dutch bicycle manufacturer Pon.Bike in Kėdainiai. This is one of the contracts signed by the Ministry for a major investment project that will attract more than EUR 56.9 million in investment and create around 600 new jobs.
"The opening of the factory in Kėdainiai by Pon.Bike, a world leader in the bicycle industry with a rich history of more than 100 years, is a very important step for the development of the region. It will help create new jobs and attract investment. Up to 450,000 bicycles per year will be produced here in Lithuania, contributing to the development of sustainable transport and green transformation," said A.Armonaitė, Minister of the Economy and Innovation.
With more than 4,000 employees worldwide, the company uses the most advanced technologies that meet the highest standards of sustainability and environmentally friendly production. Lithuanian bicycle manufacturers are also investing in new technologies and innovations to create lighter, more durable and better bicycles, including the increasingly popular electric bicycles.
Lithuania is already one of the European leaders in bicycle production, with bicycle exports accounting for around 1.5% of Lithuania's total exports by 2023.
Since the launch of the Green Corridor Initiative, EIMIN has already signed contracts for 17 major investment projects. They will create more than 4,600 jobs and attract more than €1.49 billion in investments.
The Green Corridor initiative, developed by the Ministry of the Economy and Innovation and launched in 2021, makes it much easier and faster to set up in the area, while also granting the status of a project of national importance and a 0% corporate tax rate for up to 20 years.