By Jonas Deveikis, LRT.lt.
Lithuanian technology company Teltonika has opened four new factories in the capital as part of a €320 million investment aimed at boosting domestic production of electronic components and reducing reliance on imports.
The plants – for printed circuit boards, plastics and mechanical components, electronics assembly and components – mark the completion of the first stage of the company’s High-Tech Hill industrial park project in Vilnius.
The 55-hectare park in Liepkalnis is expected to house around 10 industrial and administrative buildings by 2028, creating 5,000 to 6,000 jobs. Total investment in the project could reach €3.5 billion, the company said.
“Our goal is to keep competencies and people in Europe and Lithuania who can create such technologies,” said Arvydas Paukštys, founder of Teltonika IoT Group and head of its parent company, AGP Investments. “If we moved everything to Asia, we would be very vulnerable.”
Paukštys said Teltonika currently produces about 10 million devices annually but will now be able to triple capacity to 30 million. The company aims to manufacture all the critical components for its products domestically.
Read more: LRT.LT
