Serbia gives EUR 3.5 million in subsidies to American Rivian – Funds intended for establishment of European technology center

On March 3 of this year, the Ministry of Economy granted Rivian SE Europe d.o.o. Belgrade a subsidy in the amount of EUR 3.5 million. The funds were given to the company to establish a European technology center and centers of excellence and shared services for Rivian's support functions in Belgrade.

According to the contract, Rivian had the obligation to employ at least 370 new workers by the end of 2024, and to invest at least EUR 6.6 million by the end of this year. Additionally, in the next five years after the end of the investment, the number of workers must not fall below 370.

Also, at the request of secondary schools, according to the contract, the company will have to provide internships at the production plant, that is, for interested students, internships at the company's headquarters.

The funds will be paid in two tranches in dinar equivalents. The first tranche will be paid in 2025 in the amount of 88.8% of the funds, or about EUR 3.2 million, while the second tranche will be paid in 2026 in the amount of the remaining 11.16%, or EUR 394,087.

Rivian SE Europe was founded on July 28, 2022, and is owned by Rivian Europe B.V. based in Amsterdam, Netherlands. This company deals with computer programming and operates in the information technology sector. At the time of submitting the application for the grant of subsidies, the company had no employees.

The company is actually part of RIV UK Engineering Limited, based in London, which operates in the field of engineering design for industrial processes and production for the company owned by Rivian Automotive Inc, which operates in the field of car manufacturing. Rivian Automotive Inc. is engaged in the production of electric cars - sport utility vehicles (SUVs) and pickup trucks on the "skateboard" platform.

The main markets of this investor are the countries of Europe and North America.

At the time of submitting the application, this company employed 11,331 workers within its group, in the countries in which it operates.

Rivian SE Europe d.o.o. Beograd

Ministarstvo privrede Republike Srbije

Rivian SE Europe doo Beograd

Rivian Europe BV Amsterdam

RIV UK Engineering Limited London

Rivian Automotive Inc

Ministry of Economy

state subsidies for foreign companies