Fox Automotive Switzerland and Phoenix Gold Resources have announced plans to launch production in Hungary of the MIA EV 2.0, a new version of a compact all-electric vehicle initially made by a French company that went bust in 2014.
Fox and Phoenix announced the establishment of a Hungarian subsidiary, called Fox Automotive Hungary, headed by Ekkehard Philipp, the former CFO of German car maker Daimlerʼs manufacturing business in Hungary.
Fox said the MIA production plant is located "in the western part of Hungary and in the logistically favorable triangle of Austria-Slovakia-Croatia."
A map on Fox Automotiveʼs website marks a manufacturing and R&D site in Komárom (NW Hungary), noted state news wire MTI.
Fox has a full-fledged assembly line, which is expected to be capable of producing 12,000 EV cars per year for the European market by early 2020, according to the announcement.
Fox announced that its management is presently negotiating potential strategic partnerships with automotive industry suppliers and financial groups in Korea, India, Germany, Hungary and the Middle East. These parties have met in person in Hungary with test drives of the MIA EV 1.0 in Budapest, it added.
Franceʼs Mia Electric started producing its all-electric cars in 2011, but financial problems forced the company into liquidation in 2014.